Survey shows many ill-equipped for property market
Many people wishing to climb onto the property ladder are hampering their hopes of finding a home due to poor preparation, warns a Wirral law firm.
A survey commissioned by QualitySolicitors has shown 72% of would-be purchases failing to check their credit rating, 59% not bothering to secure a mortgage in principle, whilst another 74% fail to get a solicitor in place beforehand.
David Roberts of QualitySolicitors David Roberts & Co said that with the property market in a healthy position following the election, buyers need to be sharp to ensure they stay ahead.
“Many are making mistakes, which leave them missing out on the homes of their dreams,” said Mr Roberts, whose firm is based in New Brighton.
“The market has reacted favourably to the General Election result and the wide-spread message from a range of experts and analysts is that we are in a period of steady house growth, with bricks and mortar once again seen as the safest investment,” she added.
“However, there is a naivety by many people who need a little help at what is a stressful time,” she said.
“Getting the three components of top credit ratings, a mortgage in principle and a reliable solicitor in place certainly gives an edge to a buyer because the number of sellers who suffer from time wasters and delays is substantial,” she added.
The survey by QualitySolicitors was conducted in March and involved 500 people across the country who had bought a property in the past two years for their views.
Nolan PR, Acorn House, 140 Station Road, Wythall, Birmingham, B47 6AE. 01564 822861 / 07505 133302