Legal and structural checks 'crucial' for FTBs

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www.moneynews.co.uk > Housing market > Legal and structural checks 'crucial' for FTBs

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Legal and structural checks 'crucial' for FTBs

Young homebuyers are being encouraged not to rush into investing in bricks and mortar but to carry out legal and structural checks on their prospective property first.

Research from AA Legal Services suggests that one in five 18 to 29-year-olds fail to carry out basic assessments of their first property.

Consequently, two-thirds of new owners fall victim to a range of problems during their first year as a homeowner.

Structural defects which are commonly identified by new buyers include leaking roofs, rotten windows, draughts, drainage problems and rising damp, problems which might have come to light with a survey.

James Molloy, head of AA Legal Services, said: "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 making."

He added: "Simple legal and structural checks not only give peace of mind, but could also avoid costly surprises."

The group says it provides a range of legal services for homebuyers to "demystify" the process.

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