Abbey puts brakes on Britons in a hurry to buy

09 May 2007
Affordability constraints may be making British homebuyers desperate, but they shouldn't compromise quality for the sake of a fast sale, Abbey has warned.

Britons spend just 96 minutes on average viewing a property before putting in an offer, the building society's research found.

Indeed, they spend longer booking their holidays than they do surveying a future home.

But a rushed move can result in bitter regrets if a homeowner doesn't take the trouble to thoroughly assess their future property, Abbey's head of mortgages, Nici Audhlam-Gardiner warned.

Almost half of homeowners reporting difficulties with their new home just after sale, with one in five people discovering their home's interior decor to be flawed.

Ten per cent of people said they should have visited their property more often before moving in while six per cent agreed a more detailed survey would have been worth the extra expense.

As many as 42 per cent of homebuyers in Yorkshire said they wished they had done something differently during the moving phase.

"It really is crucial that homebuyers do as much research as possible before making an offer on a new property," Ms Audhlam-Gardiner said.

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