In the News
Residents hit by parking scam
A new scam has seen fraudsters pocket our hard-earned cash by renting out parking spaces on unwitting homeowners’ driveways. A website which lists empty parking spaces has found itself caught up in the scam after unknowingly listing parking spots advertised by scammers. In some cases, owners have come home to find strange cars parked in their private parking space. Even worse, it can be very difficult to remove cars parked on your property due to legal loopholes.
Three quarters find defects after moving in
More than three quarters (77%) of us have found issues with our new home after moving in, according to research1. The most commonly overlooked defects include damp and mould (24%), faulty electrics (22%), poor plumbing (20%), cosmetic issues with walls, ceilings or internal fixings (19%) and problems with the central heating (18%). A survey would reveal these kinds of defects before you buy – and it would be well worth it, as it costs around £5,000 to fix these faults!
Mum and Dad still forking out
The Bank of Mum and Dad (BoMaD) continues to shell out an average of £19,000 to help first-time buyers onto the property ladder, with 56% of buyers under the age of 35 receiving financial support2. BoMaD continues to occupy a major role in the property market; 71% of those who bought a home with financial assistance from parents or relatives said they wouldn’t have been able to buy without it, and would instead have had to delay their purchase by four years on average.
1Compare the Market, 2020
2Legal & General, 2020
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.