More families are shunning full building surveys so they can raise enough cash to buy a home
The Royal Institution of Chartered Surveyors (RICS) warns that that purchasers are risking nasty surprises and huge repair costs by not obtaining a pre-purchase survey.One in five of those who did not bother obtaining a survey later uncovered faults, according to research involving more than 1,000 buyers conducted by ComRes for the RICS.
Remedial work cost £5,750
Increase In First Time Buyer Activity , says CML
A more stable and “positive” year in the UK housing and mortgage markets can be expected in 2013, a lenders’ group has said. Increased activity in the number of first time buyers has been reported in Wales, London and other areas of the UK. Data showed that first time house buyers are regaining their confidence and re-entering the housing market.
House prices in the UK have recorded their first annual rise since October 2010, rising by 1.3% in January compared with a year earlier, Halifax has said. They did however, note that property values were 0.2% down on December.
The “signs of improvement” in the market, which started in late 2012, continued into the new year, the lender said.
They added that the outlook for prices was somewhat unclear.
In the three months to January prices were 1.9% higher than in the previous three months, with the price of the average home valued at £162,932.
The figures, based on the Halifax’s own lending data,
Blocked valley gutters and leaking gutter joints often cause penetrating damp in buildings. It is important to check them regularly and ensure they are kept free of leaves and other debris. Such high level work should be carried out by contractors with the correct equipment.Research from the RICS has highlighted that Homebuyers in England and Wales face bills of thousands of pounds by not obtaining a complete survey of their intended property purchase. The survey revealed that a quarter of purchasers who had the basic mortgage valuation had to make unplanned building work repairs such as damp proofing and roof repairs averaging £1818 although costs can be much higher.
Customers Comments
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