Third of Brits would buy property knowing it had major issues

Michael Lloyd

September 27, 2019

Around a third (32%) of Brits would buy a property knowing that it had a major issue such as damp or structural problems, research by Atom Bank has found.

More than half admitted to not investigating common issues such as damp (54%), central heating (54%), electrical (58%) and roof (59%) problems.

David Castling, director of intermediary lending at Atom bank, said: “With over a quarter (26%) of Brits prioritising decor over serious issues like structural problems or rising damp, it’s clear more education is needed for house buyers to highlight the items they should be looking for when viewing a house.

“It’s easy to be drawn in by lovely decor, but questions about the history and integrity of the building should be asked from the very first appointment, and investing in a reputable surveyor and solicitor may well be the best investment you can make when it comes to your new home.

“We hope this research helps to highlight the issues – yes, house hunting should an exciting and enjoyable experience but it pays to make sensible enquiries from the off.”

Meanwhile asbestos (67%) and structural concerns (61%) were overlooked by around two thirds of potential buyers.

The majority (82%) of buyers admitted to not looking out for Japanese Knotweed in the garden, which can cost as much as £20,000 to rectify.

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