A journalist at Mortgage Solutions is writing a piece on issues with new build properties. There's apparently some new research out this week that has found that around 60% of new-build buyers find issues with the property once they get the keys, from things like leaking roofs and dodgy brickwork pointing to doors that don't fit properly and blocked guttering.
The journalist is aware this was a big issue a couple of years ago, with some developers paying compensation after they admitting cutting a few corners, but wants to get a broker's take on this.
- What horror stories have you had from your clients of new builds?
- Does this influence the advice process at all, e.g. is it something you'd ever raise with a client?
- Finally, from a lending perspective, what's the market like with new builds? Are lenders easy to work with on these sorts of cases?
Deadline is fairly tight so keep your responses short and sweet!