Homebuyers let down by failing legal system, says MP Longhi
Homebuyers are being let down by a legal system which fails to offer adequate protection against unscrupulous developers and contractors, an MP has warned.
Marco Longhi said first-time buyers were particularly vulnerable under the current system, which he said was leaving people “financially exposed” with no recourse under law.
The Conservative MP for Dudley North has put forward new legislation that would establish minimum standards of legal advice during property sales.
He said: “Buying a house is probably the single biggest financial investment someone will make in their life, and I have seen too many people receive insufficient protection in a legal system that is fraught with risks, with first-time buyers being especially vulnerable through lack of experience.
“I have seen and heard of scenarios playing out in Dudley, in the Black Country and beyond where people find themselves financially exposed.
“The system is being gamed by unscrupulous developers and contractors because it is not sufficiently transparent. This is a complex area to interpret and there are risks that are not always evident or understood.
I hope my Bill will bring forward better protections for people when buying their home through a better understanding of all potential risks.”
The Bill was approved after its first reading and is set to return to the Commons in late November.
