Over the last five years, consumers believe that almost a quarter (23%) of all home purchases or sales have fallen through due to delays caused by poor communication between lawyers lenders and estate agents, according to a survey by OnePoll, commissioned by the Conveyancing Association.
The results show that, for over half (52%) of those who have bought or sold a house since 2008, the transaction took longer than expected, with just under half (48%) saying the process involved unforeseen delays. Continue reading
The Property Ombudsman (TPO) is launching a new Code of Practice to cater for the growing number of Buying Agents acting for consumers buying property in the UK.
TPO provides a free and impartial dispute resolution service for consumers and will be implementing The Buying Agent Code of Practice on 1st January 2014. The new Code has been designed to create a uniform set of standards for buying agents based in the UK to protect the interests of consumers and to promote best practice in the industry. Continue reading
Getting the home of your dreams may seem like an arduous task – but by doing your homework and getting prepared, the process can be made easier.
These days, the first move made by the modern British house hunter is to log on to the Internet, where a wealth of information about the housing market can be found at the touch of a button. Continue reading
A new survey by estate agent Greene & Co, which asked respondents whether they would buy a home next to one of nine noisy or unattractive locations, has shown that pylons, derelict land and the proximity of take away restaurants are the biggest turn offs for potential house buyers.
Pylons were cited by 70% of respondents as being the least desirable blight to live close by, putting in second place derelict land (69%) and takeaway restaurants (57%) in third. Continue reading
Energy Performance Certificates (EPCs) are having no bearing on the sale of properties, according to homefinders agent County Homesearch, although the intention was to help improve the energy efficiency of housing stock.
County Homesearch, with its 26 offices countrywide, has not come across a single case where buyers have queried the energy performance of a home to negotiate a price. Continue reading
Buying a home can be a daunting experience – particular if you are going through the process for the first time or it has been many years since you last moved house.
Knowing the right questions to ask can sometimes be confusing in what,for some, may already be an uncertain process. Continue reading
Prices for London’s best homes continue to rise and now stand 58% higher than the market low in March 2009.
But, according to Liam Bailey, Global Head of Knight Frank Residential Research, there’s growing evidence that buyers are less willing to commit to homes with over-ambitious price tags. Continue reading
Spring and summer are traditionally popular times of the year when it comes to house hunting – but beware of being seduced by the seasons if you are thinking about buying now.
House hunting in the warm weather could be a deciding factor when it comes to making an offer; cool rooms, large windows and a spacious garden. Continue reading
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