Reform the Home Buying and Selling Process

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... were required to know their financial capacity beforehand. The phrase "other preliminary preparation", being ambiguous, leaves the buyer with lots of different things to do for, i.e. make their own survey on the property, which only around 1/10 or more do. Thus the duties of the buyer are not made compulsory, which gives him lots of freedom; a freedom that could jeopardize the whole process of conveyance.

The professionals described in the government proposals, are all put together in one box, which seems inappropriate. Although generally customers are satisfied with their work as a whole, mortgage checks and lenders usually do not require a long period of time for their work compared to the local authorities, which takes slightly longer. Exceptions to the general rules are present, where mortgages offers are delayed as well as delays with solicitors. Thus as recommended by the DETR, these parties should be asked to co-operate with each other in order to ensure smooth running with the whole process, especially in the interest of the consumers.

On the other hand, forcing lenders and institutions to process application faster could lead to possible errors in their calculations due to the pressure which in turn could turn out to be financially "negative" for them. One also has ...

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