The number of house sales falling through before completion has dropped dramatically, according to the UK’s largest independent home buyer; Quick Move Now.
Their figures show a house sale fall-through rate of 23% for the second quarter of 2018, compared with the record high 38% for the first quarter of the year.
Danny Luke, Quick Move Now’s managing director, says: “The start of 2018 was challenging for the UK property market. Political and economic uncertainty left many homeowners and would-be buyers feeling nervous. The end of 2017 saw London house prices drop for the first time in eight years.”
Reasons for fall-throughs include the buyer changing their mind or the seller pulling out after getting a higher offer, problems securing a mortgage, chain collapse and the buyer pulling out after a negative survey.