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| :: 13-12-2006 :: |
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One in five confused over conveyancing ...
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| :: 13-12-2006 :: |
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RBS rumoured to be phasing out The One Account ...
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| :: 12-12-2006 :: |
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House prices to rise 7% in 2007, says RICS ...
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| Last Updated: Wednesday, 13 December, 2006, 14:22 GMT 15:22 UK |
| One in five confused over conveyancing |
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19% of respondents thought that estate agents carried out conveyancing, while a further 8% said they thought conveyancing was carried out by the homeowners themselves.
Many are also unclear on what they are paying for when they commission conveyancers to carry out local searches. 73% of people were aware that local searches can identify close proximity to public rights of way, under half of the respondents realised that planned road humps and sewer works, as well as resident parking controls, could also be identified.
Similar confusion was evident over home information packs (HIPS). Although HIPS are due to become mandatory in under six months, 37% of homeowners were found to be unaware of their existence.
Of those who were aware of HIPs, many people were confused about who would pay for them, with 15% of people believing estate agents would have to pay for them.
Alex Fraser, chief executive of C-NLIS comments: “It is quite concerning that the general public do not seem to have an understanding of these issues. Buying a house and signing up to a mortgage is possibly the largest financial commitment we make in our lives, and yet the sheer number of people who do not fully understand the basic terms and processes is very worrying.” |
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