View more on these topics

Movers benefit from lower estate agent fees

The cost of moving house has fallen to a 10-year low and could dip even more as a slowdown in the market forces estate agents to compete on charges, says the Woolwich.

The lender&#39s annual survey shows the average cost of moving from a £150,000 home to a £200,000 home has fallen by 25 per cent to £5,523 today from £7,378 in 1993.

The cost of moving from a £150,000 house varies from £4,785 in the North-west to £6,249 in Greater London – a difference of 23 per cent.

Woolwich says this is mainly because estate agents in the North are charging around 30 per cent less than those in the South.

The survey, which was carried out by the University of Greenwich using data from 1,350 estate agents and solicitors across the UK, reveals that estate agents have reduced their charges by 6 per cent in the last year. But solicitors&#39 charges increased by 7 per cent in 2002.

Woolwich head of mortgages Andy Gray says: “Contrary to popular perception, the 25 per cent drop in house moving fees over the past 10 years is largely because estate agents have dropped their fees by around 45 per cent.

“With house-price inflation set to slow markedly this year, this could lead to increased competition among estate agents and less activity in the property market.

“We would expect these fees to fall further as we move into 2004.”


ScotEq says IFAs should consider transfers for EPP clients

IFAs should review the pension arrangements of their clients who have executive pension plans and consider transferring them to a personal pension, according to Scottish Equitable.The company says pensions have changed over the years and it believes that the time is now right for IFAs to review their clients with executive pension plan benefits and […]

NDF joins the cafe society

NDF Administration has entered the protection market after stockmarket uncertainty dulled people&#39s appetite for investment products. Its first offering, Home Protect, is a cafeteria-style protection package that brings together a range of products from other companies.Prudential has been chosen to provide term insurance, critical-illness cover and the sickness and accident element of mortgage payment protection […]

Norwich & Peterborough Building Society – Childrens&#39 Loyalty Bond

Thursday, 24 April 2003 Type: High interest account Minimum-maximum investment: £1,000-£25,000 Interest rates: 4.4% gross a year Term: Five years Offer period: Until further notice Withdrawal penalties: 180 day&#39s loss of interest Tel: 0845 3002511

Product matters

the bright pink corporate colours, everything about Bright Grey, Royal London&#39s new protection arm, dares to be different.It has launched a plan incorporating life, critical illness, income protection and premium protection, the latter two for both sickness and unemployment.Anyone receiving the business launch pack can be forgiven for dismissing it as tacky junk mail. But […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm