The Council of Property Search Organisations has published a new compliance note which sets mandatory standards for climate searches for property search organisations who subscribe to the Search Code.
CoPSO was founded in 2003 and provides guidance and a ‘self-regulatory framework’ for property due diligence data providers under its Code of Practice for Search Compilers and Retailers – The Search Code.
The guidance, which follows the publication of a climate risk compliance note from the Conveyancing Information Executive yesterday, outlines mandatory content, coverage requirements, standards and assessment criteria that all search compilers must follow. The notes goes on to provide details on the “content (and) essential information needed to support informed decision-making during property transactions.”
CoPSO adds the note acknowledges that search compilers may choose to include optional, non-mandatory content within their climate reports. “Where such elective content is added, additional requirements or standards may apply,” it says.
“The Compliance Note therefore sets out the specific obligations that must be met when optional content is incorporated, ensuring that even elective elements uphold the integrity and expectations associated with the Search Code.
“These requirements safeguard consistency across the market.”
Commenting on the note, CoPSO chair Allison Bradbury said:
“This new Compliance Note reflects our ongoing commitment to quality, transparency, and consumer protection. By clarifying both required and elective content standards, we are supporting search providers in delivering climate reports that legal professionals and homebuyers can rely on with complete confidence.”
The note serves to reinforce and strengthen industry-wide consistency and promotes best practices amongst data providers, Bradbury concluded.
