Estate agents dissuading buyers

20-Sep-2007

More Britons are unsatisfied with their new properties as a result of fears first brought on by estate agent practices, AA Home Insurance has suggested.

Almost a third of buyers are unhappy with their property, the study found, with the same proportion (29 per cent) saying they found the process of purchasing a new home problematic.

Reasons for such feelings include fears that estate agents have been unfair in their dealings, cited by seven per cent as a factor.

The problem is compounded by the profession's standing as second only to politics in the untrustworthiness stakes, the study added – just 30 per cent of buyers now say they would look to agents as their first port of call when seeking advice.

"For most people, buying a home will be the most important purchase they make in their lifetime, so it's really important to get it right and make sure you have no regrets once the contract is signed," noted Janet Pell, head of AA Home Insurance.

"And once you've found your dream home, make sure you shop around for the best deal on your mortgage, surveys and home insurance," Ms Pell added.

The costs associated with purchasing a home take up 30 per cent of a new buyers' income in the first 12 months after moving in, GE Money reported earlier this week.

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