SFHA and GWSF submit joint response to Factoring Consultation

Following a recent roundtable, where SFHA and GWSF members came together to share their views on the Scottish Government’s proposals for changes to the Code of Conduct for Property Factors, a joint response was submitted last week.

Ultimately, it is for factored owners to come to a view on whether or not the original Code of Conduct for Property Factors has led to improvements in the quality of factoring services provided to homeowners. However, from a factor’s point of view, both SFHA and GWSF believe that the code has led to significant improvements. It has encouraged focus and structure and ensured factoring services are staffed properly. 

However, concerns remain about what real action is taken against those factors that do not adhere to the code.

In relation to the draft revision of the code, the joint submission raised concerns in a few areas. For example, the housing associations that fed into SFHA and GWSF’s information gathering believe that it is excessive to require factors to issue their written statement every year to all owners.

A copy of the full response will be available to members shortly. SFHA and GWSF would like to thank members who contributed either at the meeting or via email and will keep members up to date regarding the revision of the code.

The consultation closes today, 15 January. Details can be found on the Scottish Government’s website.