Foreword

By the Chairman of the Council

Welcome to the 2019 Property Redress Scheme (PRS) annual report.

This year we have decided to do something a bit different in the way we present the report to make it more interactive and dynamic for our readers. I hope you find it an interesting and useful way of finding out about the work the Property Redress Scheme undertakes and the difference it is making.

The key theme of this year’s report is early resolution and how a redress scheme can show real value in resolving complaints and disputes quickly and effectively.

The 19th Century, British Prime Minister, William Gladstone once said, “Justice delayed, is justice denied” and it certainly is in this fast-moving world. Consumers need to trust in processes that deliver outcomes in a timely and efficient way. This is certainly the challenge in the redress world and one that the Property Redress Scheme has embraced and built on this year.

In terms of the current state of the property world, I am acutely aware that things are moving at a bewildering pace and that the landscape of regulation and compliance in the market is changing beyond recognition, especially compared to when I became involved with the Property Redress Scheme five years ago.

Of course, it would be foolish to believe that all of the change has been positive or indeed sensible, despite the good intentions of the politicians who propose and enact it, however overall a move to a more professional and regulated sector is good for all sides in the housing market.

What we need however is a coherent, workable and realistic strategy behind the reforms and a collegiate approach to a market that only thrives when all the participants feel empowered and part of an equitable arrangement where nobody feels taken advantage of.

This is what we are trying to achieve at the Property Redress Scheme, and I’m sure you’ll agree, the stats within this report reflect that.

As Chair of the Advisory Council, I have seen the steady progress made in this area and I am pleased to see the trend is still continuing to show the resolution times speeding up in 2020.

Lord Monroe Palmer, Chairman of the Property Redress Scheme Advisory Council