February 2010
The Office of Fair Trading (OFT) published its study into the UK home buying and selling market on 18 February. The full news article and report can be found here.
December 2009
The Royal Institution of Chartered Suveyors confirms that there is 'no doubt' the Home Report is benefitting buyers and sellers in Scotland. The full article can be read here.
Housing Minister Alex Neil has said that the system has been 'good news' for the Scottish housing market.
Money Laundering Regulations
On the question of whether Home Reports will be subject to Money Laundering Regulations, it is arguable whether the preparation of Home Reports is regulated. The Scottish Government and HM Treasury have been considering this matter, and the position has been compared with the position of Home Information Packs in England and Wales, which are on the list of exclusions from the regulations. As part of this consideration HM Treasury has confirmed that, to avoid any doubt, it aims to amend the Money Laundering Regulations shortly to explicitly exclude Home Reports from their scope.