What is a Written Statement of Services?

A Written Statement of Services (WSS) is a legally required document that every Factor must provide to homeowners. It sets out the terms of the factoring arrangement and the standards of service the Factor commits to deliver, as required by the Property Factors (Scotland) Act 2011 and the updated Code of Conduct (2021).

The WSS ensures transparency, protects homeowner rights, and serves as a reference point in the event of disputes or complaints. It must be issued within four weeks of agreeing to provide services or being notified of a property purchase, and updated regularly, to reflect any changes in service delivery.

To comply with the Code of Conduct, the WSS must include details on:

·        Authority to Act
·        Services Provided
·        Financial & Charging Arrangements
·        Communication and Consultation
·        Complaints Procedure
·        Declaration of Interest
·        Details on how homeowners can terminate the factoring arrangement

Our WSS is available digitally on our website, and can be provided in hard copy, on request.