‘More work needed’ on property register

Legal: Estate agent trade body Propertymark gave a lukewarm welcome to the Royal assent of the Economic Crime Bill and its register of homeowners.

Timothy Douglas, Head of Policy and Campaigns for Propertymark, says: “The housing market cannot maintain integrity until it is possible to know who the ultimate owner of a property is. The register will help to do this and strengthen existing checks carried out by agents, but only when information on the register can be verified, which will require further legislation to provide extra powers for Companies House. Plus, the legislation is four years too late.”