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Spring is packing in details to speed sales

An online service offered through estate agents is being set up to speed up the mortgage advice process and end post-sale delays.

Spring, created by Shropshire solicitor Stephen Foden is seen as an extension of the home information pack, providing information on a property in advance of sale, using just one solicitor for each transaction.

The Spring pack aims to speed up the advisory service through validating a buyer’s financial details, cutting out the need for a survey by the the buyer and satisfying money laundering requirements.

It includes an independent surveyor’s report, independent legal title report, fixtures and fittings list, title indemnity insurance policy and a Hometrack report. It also contains a contract of sale to guarantee price and confirm sale.

The move has been welcomed by the Council of Mortgage Lenders, the National Association of Estate Agents, Which? and the Office of the Deputy Prime Minister.

Spring chairman Stephen Foden says: “When a buyer comes along to the adviser, the Spring document can hold information required by the mortgage intermediary so the mortgage application and advice process can proceed.”

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