Code of Practice for the Property Buyers Association

PROBAS members are committed to the highest levels of integrity, transparency and openness in all their dealings with customers and potential clients.

This includes the adoption of business policies and procedures which meet the rigorous requirements of the PROBAS Code of Practice.

The Code is an important statement by PROBAS members of their commitment to socially responsible practices and acting in the best interests of their customers.

Adoption of the Code will act as a means of industry self regulation and is intended to be rigorously applied to all aspects of the business and advertising practices.

The code is defined as a set of basic principles:

Industry standards

To display the code of practice on own website and / or to provide links to the Association’s website.
To include a copy of the code of practice with all offers to customers.
To maintain adequate client records, including transaction histories, for a period of no less than 12 years.

Transparency

To ensure that all marketing adheres to Advertising Standards Authority regulations and is not misleading.
To confirm all offers in writing to agreed standards, (for example, ‘Key Facts’ information similar to that required for a mortgage will be provided).
To advise clients to take Independent Legal Advice, particularly as regards explaining the contract and terms of tenancy in rent back situations.

Financial Relationship with Client

To provide clarity and transparency in terms of rent costs and property valuation.
To not charge upfront fees directly to the client.

Client security

To join the Association’s Compensation Scheme whereby members are to be severally liable for damages, supported by bond at an appropriate level.
To adhere to strict data protection standards on behalf of clients.
To ensure that all members who are involved in the buying process to be Criminal Records Bureau checked at an appropriate level.

Corporate Social Responsibility

To recommend housing benefit and debt management advice pre-completion.
To signpost other bodies for advice, for example the Citizens Advice Bureau and Consumers Credit Association, and refinancing options such as Individual Voluntary Arrangements and to keep records of when these options have been highlighted to the client.

Download PDF version - Code of Practice for the Property Buyers Association

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Code of Practice for the Property Buyers Association PROBAS members are committed to the highest levels of integrity, transparency and openness in all their dealings with customers and potential clients. This includes the adoption of business policies and procedures which meet the rigorous requirements of the PROBAS Code of Practice. The Code is an important statement by PROBAS members of their commitment to socially responsible practices and acting in the best interests of their customers. Adoption of the Code will act as a means of industry self regulation and is intended to be rigorously applied to all aspects of the business and advertising practices. The code is defined as a set of basic principles: Industry standards To display the code of practice on own website and / or to provide links to the Association’s website. To include a copy of the code of practice with all offers to customers. To maintain adequate client records, including transaction histories, for a period of no less than 12 years. Transparency To ensure that all marketing adheres to Advertising Standards Authority regulations and is not misleading. To confirm all offers in writing to agreed standards, (for example, ‘Key Facts’ information similar to that required for a mortgage will be provided). To advise clients to take Independent Legal Advice, particularly as regards explaining the contract and terms of tenancy in rent back situations. Financial Relationship with Client To provide clarity and transparency in terms of rent costs and property valuation. To not charge upfront fees directly to the client. Client security To join the Association’s Compensation Scheme whereby members are to be severally liable for damages, supported by bond at an appropriate level. To adhere to strict data protection standards on behalf of clients. To ensure that all members who are involved in the buying process to be Criminal Records Bureau checked at an appropriate level. Corporate Social Responsibility To recommend housing benefit and debt management advice pre-completion. To signpost other bodies for advice, for example the Citizens Advice Bureau and Consumers Credit Association, and refinancing options such as Individual Voluntary Arrangements and to keep records of when these options have been highlighted to the client. Download PDF version - Code of Practice for the Property Buyers Association
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