Home Buying Delays Causing Chains To Snap

Home sales are falling through because delicate sale chains are breaking due to delays in the complex home-buying process, coupled with a slow property market. The warning comes after figures from HM Revenue & Customs in January 2012 show that house sales fell last year with only 890,000 completions – one of the lowest on record since records began in 1978.

To help avoid chains snapping and delays in general, it is important to get your solicitor involved as early as possible. Most people wait until late in the process to consult a solicitor, but by including them early they can help come up with an agreed timeframe in which to sort out any potential problems that arise.

In the current climate, mortgage lenders are very strict about lending so with a solicitor in place early on there are likely to be fewer errors in providing the information about the property required for the home loan. The mortgage lenders have confidence in the Law Society’s CQS, so using a CQS solicitor, who has undergone a rigorous assessment process by the Law Society, can be reassurance for your mortgage provider and others in the chain.