The survey of 1017 buyers across the UK found that consumers are clearly aware of the need for independent advice, with 94% of respondents agreeing it is important to commission a survey.
However, nearly a third failed to do so. This means buyers are left ignorant of issues with the property, such as structural defects, dry and wet rot, subsidence and many other faults, only for these to become serious matters at a later date.
The new homeowner may then be unable to afford, or may lose the desire, to fix the faults and may be left with a property they may no Continue reading
"Not only will the scheme help first-time buyers, but it will help existing homeowners too. There are two elements to the scheme: the first offers shared-equity loans to anyone looking to buy a new build property. This is an extension of the existing First Buy Scheme which is only available to first-time buyers.
"The second element is the proposal to introduce a new mortgage guarantee scheme which will hopefully encourage more lenders to offer mortgages to those with smaller deposits.
"While mortgage rates have fallen significantly in recent months, the best deals are still only available to those with significant deposits – in Continue reading
Additionally, more than a fifth (22%) of respondents believe it is actually harder to move up the ladder than it was to get on it in the first place, while almost half (46%) of second steppers believe it is equally difficult to move up the ladder, than it was taking the first step onto it.
Second steppers are currently looking to stay longer in the first home, a sign that market conditions are changing their expectations. In 2010, they expected to spend four years in their first home, whereas now they are more likely to plan to stay for five years. On Continue reading
An annual study by the Halifax bank revealed that the south east of England has become increasingly desirable for those looking to purchase this year.
Hart in Hampshire came out on the top of the list, boasting the country’s largest freshwater lake, Fleet Pond, plus beautiful surrounding countryside. Residents within this district were said to have good health and high employment and were also able to enjoy good quality schooling and low crime rates. What’s more, average life expectancy is high, with men living until 81.7 years; a good 2.7 years above the national average.
Architectural delights abound, meaning that 1,000 buildings are Continue reading
Levels of interest and activity in property have been sustained well into February, helping to drive record levels of enquiries to Rightmove member agents.
Traffic activity for the first six weeks (to February 12th) has continued to set new records with more than 1.7 billion pages viewed across Rightmove over the first six weeks of 2013 , up more than 20% on the same period last year. It is this sustained level of interest that has seen Rightmove record its busiest ever month and helped secure sixth spot in Experian Hitwise’s rankings for the whole month of January.
Rightmove director Miles Shipside comments: Continue reading
There was an average of 282 house hunters per branch in December following a monthly increase of 7%, according to the latest Housing Market Report from the National Association of Estate Agents (NAEA). These figures are strongly backed up by encouraging data that national estate agency Strutt & Parker has seen over the last few months.
The NAEA report shows that December’s figure represented a 41% leap from the lowest December levels seen in December 2008 and it was a new monthly high for the final quarter of 2012. Following on from these figures Strutt & Parker has seen an increase of Continue reading
Of those who would consider paying more for good broadband, 67% would pay up to 3% more for a property with a good broadband signal and 22% would pay between 4%-10% more. With the average house in the UK now costing £162,932, this would mean nearly a quarter of people would be willing to pay up to £16,293 extra to buy a home with good broadband.
Younger people are more likely to say it is likely to affect their decision, with 40% of 18-24 year olds compared to 24% of those aged 65 and over. And there is also a clear split Continue reading
Moveme.com said home movers could save approximately 59 hours of their time arranging a house move if they used its "Moving Checklist" which includes a dynamic itinerary of all that’s required for a house move, as well as handy price comparisons for some of the essential supplier services required.
The Checklist includes more than 50 tasks – everything from finding a removal company and redirecting mail, to finding local restaurants – all in one place. These tasks are unique to the user and are prioritised and tailored to the relevant stage of their home move. Each task is separated into achievable weekly Continue reading
It is for this reason that surveys are carried out to assess the condition of the property – usually undertaken once an offer on the property has been accepted.
A detailed report on the condition of the property is completed before the purchase goes ahead.
Harrison Murray’s survey department director Chris Battye said: “Most people think the valuation their mortgage lender arranges is a survey: it isn’t. It is simply a valuation to make sure the property value covers the loan being taken out against it.
“Don’t rely on such limited advice for what is probably your Continue reading
The findings follow a nationwide study carried out by broadbandchoices.co.uk and property expert, Henry Pryor.
And in the first trial of its kind, independent estate agents have tested the impact of broadband on the buying decisions of home movers, by including internet speeds on their adverts.
In the study, knowing that a property had good broadband speeds was routinely ranked as more important than traditional selling plus points such as off-street parking, access to amenities like shops and a local pub – and even proximity to a doctors’ surgery.
The UK government recently announced a £114million investment in broadband across key cities to make Continue reading