Buyers Outnumber Properties 16:1
Posted on 25th May 2021 at 11:32
Properties selling for more than asking price at record levels.
Demand for property post Covid is outstripping supply. The shortage of property for sale is forcing house prices up. Industry analysts, Propertymark said “... the continued imbalance of supply and demand is a concern and has led to a strong sellers’ market with properties being snapped up quickly at high prices."
This means that buyers are being highly selective about who they sell to which makes it ever more important that a buyer who needs a mortgage to complete their purchase has already obtained an agreement in prinicple before making an offer on a property.
Preparation and provision of all the necessary documentation, such as proof of income, expenditure and ID is essential. It is also essential for clients to check that there are no surprises lurking on credit files that could derail an application. This is a very common problem and no one is immune from errors by creditors.
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