If you are about to put your property on the market you may be a little confused about the information you need to provide to potential buyers.
You won’t be the only one.
Material Information Guidance
In 2023 the National Trading Standards Estate and Letting Agency Team (NTSELAT) aimed to more clearly define the facts required with the launch of its material information guidance.
Launched in three stages Part A included information such as council tax and the property price, while Parts B and C were revealed in 2024. Part B comprised information that revealed more about a property – such as the number of rooms, parking and utility information, while Part C detailed information that should be disclosed if a property was at risk from such factors, such as flooding or if it had restrictive covenants.
The information requested via the NTSELAT guidance was inputted into specific data fields of property portals including Zoopla and Rightmove. The idea was that this provided an at a glance definition of key information required by buyers to make an informed decision to purchase.
As well as helping speed up their decision-making process, clearly defining material information also sought to ensure that deals didn’t later fall through once previously unknown, most often negative information came to light. It seemed like a win-win.
Withdrawal of the guidance
But in May 2025, the guidance was quietly withdrawn. This followed a shift in responsibility for consumer protection to the Competition and Markets Authority (CMA) after the Digital Markets, Competition and Consumers Act (DMCC Act) came into force on 6 April. It superseded the Consumer Protection from Unfair Trading Regulations 2008 (CPRs) that had previously been in place.
Enforcement, including the ability to impose fines or take action without going through the courts, is now the responsibility of the CMA whose power is far greater.
However, the withdrawal of the property-specific guidance means there is now confusion about what constitutes material information. Although it’s still loosely defined as the key information that a consumer needs to make a purchase – in any area of their lives, not just property – omitting information that could influence a consumer’s decision in any invitation to purchase is now seen as an unfair practice whether in reality it actually does impact their decision. This, in essence, widens the scope of responsibility.
What information would you provide to a friend?
In light of the changes and the weight of the fines or bans they now face, it’s likely that agents will protect themselves with a thorough presentation of key facts to buyers whether the law defines them or not. Equally, many suspect that the CMA will use case law to set precedents, which will mean your agent won’t want to be one of those test cases.
Trading Standards had previously suggested that sellers and agents use the guidance of whether a family member or colleague would still buy a property with all the information available. That remains a good gauge of the sort of information that your agent may ask you to provide. To speed up a possible sale and to ensure compliance pulling together all the key facts about your property will remain a vital part of the house-selling process.
Thinking of selling a property? Here at Key Property Consultants we are client-driven in everything we do. Find out more about us here.
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Meta Description: Get the latest on material information updates for property sellers. Ensure you provide buyers with the necessary details to facilitate informed decisions.
