First-time buyers landing nightmare move, study shows by Finance News Bulletin

Published: 27/09/07

Many unparalleled buyers are not taking the precaution of checking out their new homes fully before they move in, a new study has revealedinvestigate by home insurance provider AA indicated that one-in-five borrowers between the ages of 18 and 25 do not carry out "basic assessments" of their novel residences before taking out a mortgageThis is leaving 66 per cent of these to undergo problems such as structural issues with the possessions and neighbours who cause disruptionAccording to the company's figures, 17 per cent of new mortgage holders countenance some difficulty with their neighbours within their first year

James Molloy, skull of AA lawful Services, commented: "Young home buyers 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 creation"Mr Molloy also advocated the employ of checks such as legal and structural examinations, which could give mortgage holders with security and circumvent any nasty surprisesMany borrowers may have had another nasty surprise lately when the Bank of England raised the base speed of interest this monthUncertainty over whether lasting fixed-rate mortgages will suit first-time buyers - Tue, 17 Jul 2007First-time buyers landing frightening move, study showsNone of the in order on this website is intended

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