Buyers Find Fault With UK New Builds
A survey by the Office of Fair Trading (OFT) has blown wide open the subject of new house builds in the UK and the general state of the market. While nobody would expect a new build to be perfect from day one, it seems as though 70% of those buying new homes have encountered problems which needed addressing by the original builders. The problems seem to vary, including decorating work, windows, plastering, appliances not working, etc.
However, on a more alarming note it was also found that 20% of those questioned found between 11 and 20 different problems, with 5% finding over 50 problems with their supposed perfect new build. There is also a warning for those who are looking at new builds as a way of jumping the property chain system in the UK – it does not always go to plan!
Many of those buyers whose move in date was delayed said that they experienced major expenses trying to find alternative accommodation, storage of furniture, etc. It seems that even when there is no chain of buyers and sellers, the price of a house move can move higher and the completion dates are just as likely to change.
Share this..
Related stories
Is it time to review your finances again?
While many in the UK will have reviewed their personal finances at the turn of the year, much has happened over the last six months and maybe it is time to look again at your personal situation. There are still a number of issues within the UK stock market, property prices have not improved yet, UK debt continues to rise and more and more people are losing their homes each and every day. Against t...
Read MoreWill the Post Office new mortgage arrangement shake up the market?
The UK Post Office, looking to extend its financial services division, has today launched a new mortgage with a fixed rate of 2.85% for two years. It will now be possible to borrow 65% of the value of your home at the new rate although there is a £1495 arrangement fee to consider. However, the 0.8% reduction in the interest rate charged on a two year fixed term is very competitive and should attr...
Read MoreBank accounts set to take a battering
Current accounts across the UK are set to be lower than ever over the coming week as people splash out on the festive period.According to new research from Sainsbury's Bank, Britons' bank accounts are set to bear the brunt of last-minute shopping and Christmas celebrations, with ATMs doling out a massive £10 billion across the country over the course of December.Commenting on this huge amount, Al...
Read More'Unlucky birthdays' revealed by elephant.co.uk
People born on certain days of the year are more likely to have a driving conviction, a car insurance provider has said.After reviewing two million customer insurance claims, elephant.co.uk identified the top three dangerous dates as September 16th, February 29th and December 24th, in that order.By contrast, May 31st was revealed to be the day on which, proportionally, the safest drivers were born...
Read MoreUS authorities announce $2 trillion bailout
The US authorities have this evening announced a $2 trillion bailout of the US banking system. This would appear to be Barack Obama's first major economic package and one which has caught the attention of investors and market analysts. The Senate is also in talks to approve an $800 million stimulus package and while a preliminary agreement has been reached the stimulus package has not yet entered...
Read More