View more on these topics

Seller&#39s packs widely welcomed in survey

Housebuyers are welcoming the proposed introduction of seller&#39s packs to help tackle problems such as gazumping, according to a survey by Yorkshire Bank.

Its quarterly housebuyers&#39 survey of 2,500 adults carried out in December reveals that 85 per cent feel the introduction of seller&#39s packs, planned for 2006, will go some way to ease the transaction process.

Only 15 per cent of respondents opposed the introduction of the packs.

One in four sellers said they would be happy to provide a survey of their property at outset if it could speed up the sale and only one in 10 buyers said they would not trust a survey provided by the seller to be accurate and true.

Although Yorkshire Bank says quicker completions of sales could ease the temptation for sellers to look for higher offers if the market is rising or buyers to reduce their offers if prices are falling, it warns that the seller&#39s packs are not a panacea for all problems.

The survey shows that 25 per cent of people are considering buying a property in the next year. However, 20 per cent say they would not want to borrow the maximum amount from a lender in case they end up owing more than their property is worth.

Chief operating officer Geoff Greer says: “Whatever the possible merits or shortcomings of seller&#39s packs may be, it seems from our survey that the housebuying public welcome their intentions.”

Recommended

Independent view

As a mortgage endowment policyholder myself, I am puzzled by the media&#39s obsession with this story as I consider it to be hyped up and flawed.Clearly, mortgage endowments were enthusiastically oversold to millions of borrowers who believed such policies were a relatively safe way of repaying a mortgage and potentially producing a surplus at the […]

Newcastle brings out third property bond

Newcastle Building Society has brought out the third issue of its guaranteed property bond. The bond works in a similar way to guaranteed equity bonds that are linked to stockmarket indices, but it is linked to the performance of the Halifax House Price Index for five years. To calculate the final returns, the level of […]

Consensus builds to back the limited advice option

A groundswell of support is building behind the limited advice option under FSA proposals for distributing Ron Sandler&#39s suite of stakeholder products, with IFA trade bodies and consumer groups claiming it is the only way forward.Aifa, Sofa, the LIA, the Consumers&#39 Association and the National Consumer Council all say they would support a reduction in […]

Witan gets its pension

WITAN INVESTMENT TRUST WITAN SIMPLE CONTRIBUTION PENSION Type: Personal pension Minimum premium: Lump sum £3,600, monthly £234 Minimum-maximum ages: From birth-75 Fund links: Witan investment trust Charges: Purchases – dealing 0.2%, transaction £6, sales – dealing 0.2%, transaction £50 Allocation rates: Premium minus £50 Minimum term: One day Commission: None Tel: 0800 0828180 The Panel: […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com