Sellers’ packs fulfil need for speed

Amanda Jarvis

January 9, 2003

The emerging need for greater assurance in uncertain times is also reflected in the numbers of buyers now no longer prepared to borrow to their maximum limit.

This is according to the results of the lender’s latest Housebuyers Survey of 2,500 adults nationwide, which examines and monitors attitudes towards the UK property market. The bank’s quarterly study reveals that the contradictory market climate – where the possible return of negative equity looms large, yet the unsavoury practice of gazumping still causes problems – has nearly nine out of 10 housebuyers (88%) saying they don’t think the housebuying process is fair. And most housebuyers (85%) feel the introduction of a sellers’ pack could go some way to easing the buying process, according to the bank’s survey results.

More than one in four people would happily provide buyers with a survey on their property now, if it meant they could speed up the buying process. And fewer than two in 10 housebuyers say they wouldn’t trust a survey provided by the seller of a property. Only 15% of housebuyers are actually against the introduction of sellers’ packs.

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