Housing: Sales
The question
To ask the Secretary of State for Housing, Communities and Local Government, what steps her Department is taking to support the inclusion of asset management plans in standard pre-sale agreements for residential properties.
Answered by Matthew Pennycook
Providing essential information upfront during the home buying and selling process is important in supporting potential buyers to make informed decisions about whether a property is suitable for them.
There is already a requirement under the Digital Markets, Competition and Consumers Act 2024 that any property information that would help a prospective homebuyer to make an informed decision is not hidden or omitted.
On 9 February, the government announced action to improve the availability of property information. Improving access to key home buying and selling data will help transactions run more smoothly by ensuring all parties are able to access the information they need at the right time.
We recognise the benefits to leaseholders of Asset Management Plans. As per my Written Ministerial Statement of 21 November 2024 (HCWS2440), the government will consult on new reforms to the section 20 ‘major works’ procedure that leaseholders must go through when they face large bills for such works.
We continue to work with stakeholders across industry, government, and the public sector to understand the most effective way of supporting buyers to make the right decisions.
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