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Sellers packs not necessarily the answer says Pink Home Loans

Pink Home Loans is warning the introduction of &#34home seller packs&#34 by the Government will create more problems than they solve.


The mortgage packager says sellers may be put off moving by the amount of up-front costs involved.


It believes the expense of providing a building survey, details of planning applications affecting the property and a list of fixtures and fittings included in the sale, could create a cost barrier many home owners are unwilling to cross.


Pink managing director Peter Presland says: &#34Although the aim of the initiative is laudable, there are downsides it is no panacea. The home buying process is a traumatic and difficult process and anything that can ease the pain is to be welcomed.


&#34However there are a couple of serious &#39buts&#39 about these proposals. The seller will be obliged to pay a lot of up-front expenses. You could argue that this will put a lot of obstacles in the way of people moving, reducing the number of properties on the market.&#34

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