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Overseas property may be facing a testing time, but last week key figures gathered in the heart of London to create tighter regulations, and make buying a stress free and safer process.

With millions facing redundancy and early retirement, knowing that our hard earned cash is secure is even more crucial if we want to make that move abroad. Recently, there have been several property scandals which have brought losses of millions of pounds to British investors. It is exactly this kind of negative publicity which puts off the average buyer; which currently is one in five of the British population.

The event showcased newly launched ‘International Development Registry’ (IDR) Ltd, designed to restore confidence in the industry. Free to property buyers, IDR reports gives an eight page online summary of the legal and financial health of a project. To become accredited, a developer must pay a fee and meet a set list of criteria. This includes title deeds, track records, building permission to name a few. Michael Masterson, MD of IDR Ltd commented: ‘It’s all about the confidence factor. Today’s sellers desperately need support. Agents want to stand out. The IDR product fills that gap’.

Ex England footballer turned developer, Tony Dorigo told the packed room why he bought his IDR Report with Title Insurance. ‘It’s fantastic. For me it gives buyers instant credibility. I’ve opened my books to the most stringent checks – but people need this and I stand out’.

To download an IDR brochure now, click www.idrgroup.uk.com

Despite the global credit crunch, the UK’s senior figures have embraced what they now forecast a ‘cleaner and meaner’ industry.

 ‘We hope to emerge bigger and better than before’ said Paul Owen, CEO of the Association of International Property Professionals (AIPP). The AIPP is a growing non-profit organisation of international agents, developers and trade partners who share a common belief to operate under a code of conduct.

‘Until now, there was no way to tell the good from the bad’.

The industry vision is to crack down on illegal operators and stamp out corruption. ‘We’re planning a series of disciplinary measures’ added Owen. They aim to regulate the industry and promote training and guidance.

‘Buyers should not be afraid to ask questions.’