First time buyers who rushed to climb the property ladder are paying the price for their impatience.
July 26, 2007 (Press Release) --
London, 27th July, 2007: With housing prices coming down, many first-time buyers are rushing to owe their own share of real estate. And most of them are ruing their decision. This is because most of them do not carry out any checks and comparison on the state of their new house and instead apply for mortgages and secured loans.
Recent figures from AA Legal Services claim that one in every five 18-29 British homeowners confess to not carrying out adequate checks and verifications about their future home before agreeing to financial assistance to buy the property.
Thus, most of them are burdened with little joys, such as drainage problems, leaking roofs and other structural concerns. The Head of AA Legal Services Mr. James says "Young home buyers are now taking out mortgages which they will be paying off for the next 50 or so years so they should feel confident about the investment they are making.”
Recent figures from AA Legal Services claim that one in every five 18-29 British homeowners confess to not carrying out adequate checks and verifications about their future home before agreeing to financial assistance to buy the property.
Thus, most of them are burdened with little joys, such as drainage problems, leaking roofs and other structural concerns. The Head of AA Legal Services Mr. James says "Young home buyers are now taking out mortgages which they will be paying off for the next 50 or so years so they should feel confident about the investment they are making.”
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