web analytics

Majority encounter problems when buying property

The majority of home buyers report problems in the home buying process, with common issues caused by delays in the chain, difficulty finding a suitable property, and homes left in poor condition.

In its annual survey of home buyers, Which? Mortgage Advisers looked at the biggest issues reported during the home buying process and found that two in three (66%) experience problems.

The most common problem was delays caused by others in the chain, which was reported by one in five (19%) of those surveyed. A fifth (18%) of home buyers claimed that they found it difficult to find a suitable property, and one in seven (13%) said the property they bought was left in poor condition or with unexpected furniture.

As many as one in eight (12%) reported that they encountered problems on completion day and one in 10 (10%) had a problem or delay while getting a mortgage. Other problems cited were due to the removals company (10%), the conveyancer (8%) and the surveyor (7%).

Which? Mortgage Advisers previously found that three in 10 property purchases fall through, reiterating the obstacles that are in the way for those looking to buy and sell property in the UK.

David Blake, Principal Mortgage Adviser, Which? Mortgage Advisers, said:

“Moving home can be time-consuming, stressful and expensive. While there are some problems that are out of your control, there are some things you can do.

“Clearer communication and opting for well-respected mortgage advisers, removal companies and conveyancers who are able to work to your timescales can all help to give you a smooth move.”

For more advice on improving your home moving experience, visit: www.which.co.uk/money/mortgages-and-property/first-time-buyers/guides/buying-a-home/how-to-buy-a-house

Leave a Reply

Your email address will not be published. Required fields are marked *