View more on these topics

Sellers focus on deal rather than prices

House vendors will sell for a quicker, lower price rather than risk holding out for a better price, according to research by Yorkshire Bank.

Findings from a survey by Yorkshire reveals that 20 per cent of sellers would favour lower offers from buyers in shorter chains rather than try to hold out for a higher bidder, nearly double the level of three months ago when the figure was 12 per cent.

Of chain-free first-time buyers, 40 per cent would be willing to make offers significantly under the asking price compared with 27 per cent three months ago.

Thirty-eight per cent of FTBs say they are keen to take adv- antage of the Government’s proposal to introduce a shared ownership scheme.

One barrier to speedy house sales is the proposed reassessment of council tax bands, with 19 per cent of those considering moving house prepared to shelve their plans until the review is complete.

Yorkshire Bank head of retail Gary Lumby says: “There has been a lot of talk in the last few months of a stand-off emerging in the housing market between buyers and sellers, with one group not prepared to pay what the other is asking for. If this is correct, then our figures suggest that it may often be the seller who is willing to back down, at least for a buyer who is part of a short or non-existent chain.”


UK must avoid merely copying US tele-underwriting models

Tele-underwriting will form a major part of protection business but the UK must not merely copy US models, according to this year’s Protection Review. SelectX director Susie Cour-Palais says many UK firms are keen to apply tele-underwriting as a “plaster” without treating the underlying problems in their businesses or in their underwriting processes. She believes […]

Mortgage View: Loyalty has to be earned

Is remortgaging going out of fashion? That is what lenders would have us believe, insisting that the new breed of products they are launching will do away with borrowers ever having to remortgage again.

Mortgage Advice Bureau signs up Lanes Estate Agency

Mortgage Advice Bureau signs up Enfield-based estate agency chain Lanes to its branch network. The new sign-up adds five new branches to the network, to which MAB will provide an advisory service.MAB has also brought five consultants and two administrators to the chain. It now has about 250 outlets across the UK. MAB chief executive […]

Collins Stewart team resigns

The 8-strong investment team at Collins Stewart Tullett resigned last week and are rumoured to be starting their own investment trust business. The team did well for Collins Stewart between 1998 and 2000 but were hit by the firms involvement in the split capital crisis. It earned 2.3m in revenue in the last six months […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment