Proposals unveiled by the government today (Monday 6 October) will speed up the long-drawn out and costly process of buying a home by four weeks, saving people money and unnecessary stress, alongside wider reforms to rewire a chaotic system which has become a barrier to homeownership.
It will see sellers and estate agents required under the plans to provide buyers with vital information about a property upfront, including the condition of the home, leasehold costs, and chains of people waiting to move. This will help end nasty surprises which result in last-minute collapses and give greater confidence to first-time buyers making one of life’s most important decisions.
Its interesting news and coincides with a new service being trialled by AALTO Mortgages in partnership with Sprift to provide upfront property data to property buyers. For all residential mortgage enquiries one report will be provided free of charge. For any subsequent purchases or Buy to Let purchases the reports will be priced at a simple £20 each.
The reports are comprehensive and include:
- Title plans and boundaries
- Comparable sales and lettings data
- Land Registry information
- Detailed EPC’s
- Schools and Transport links
- Radon, flooding and other crucial environmental data
