A survey conducted by the NAEA (National Association of Estate Agents) has discovered that 79% believe the house buying process in England and Wales is outdated.
I am amazed that it is only 79% and 21% think it is fine!
The government have announced that they are to look at ways to reform the house buying process. Previously the Labour government tried via their 1997 manifesto commitment to sellers packs…later home information packs (HIPS). However, by the time HIPS arrived in 2007 they had become so watered down due to the withdrawal of the home condition report (HCR) that they were no real benefit and in fact caused financial hardship to people who couldn’t afford approx. £350 to buy one to market their house.
Any reform to the conveyancing process that speeds up transactions, reduces fall through and looks to address those who waste other people’s time and money by not taking the process seriously has to be welcomed