Factoring essentials

Remote

Who is it for and what is it about?

This course is aimed at individuals who are either new to factoring or wish to obtain a solid understanding of the fundamental requirements of delivering a factoring service within Scotland to protect the housing stock for the next generation.

Participants will start by considering the history and development of factoring in Scotland to see where and why it all began, through to the current landscape and the legislation and regulations required to deliver a successful, consistent, and compliant factoring service. Delegates will examine the Code of Conduct for Property Factors, discuss and break down real case studies and examine different types of title deeds.

Course Content

 The Story of Factoring – a short history of how factoring in Scotland began and why it is important
 Role and responsibilities of a factor
 The law….a brief overview
 Title deeds
 Code of Conduct for Property Factors – the Factor’s guide to excellence
 Financial Obligations
 Debt Recovery
 Carrying Out Repairs and Maintenance
 Complaints Resolution
 Tenement Management Scheme
 The First-tier Tribunal For Scotland (Housing and Property Chamber) Learning Outcomes At the end of this course participants will:
 Leave with an understanding of what factoring is and why it is important to the country
 Have a basic understanding of the legislation and regulations that factors are legally bound to follow
 Understand the importance of title deeds and how to interpret them to ensure work and services are instructed and recharged correctly
 Have a moderate understanding of the Code of Conduct for Property Factors and the importance of adapting internal procedures in line with the Code to remain compliant
 Understand the value of getting the Written Statement of Service right and managing owner’s expectations
 Have a basic understanding of the Tenement Management Scheme and when to use it
 Understand why the First-tier Tribunal is important and what to expect and how to prepare if you have to attend