Almost one in ten home sales falls through because buyers cannot obtain finance, a survey of members of the RICS carried out for The Times has found.
The conclusion calls into question the effectiveness of the Government’s strategy to revitalise the housing market. Estate agents and surveyors said that 9% of agreed deals were collapsing — a picture that had not changed over the past three months. This confirmation of the continuing mortgage drought comes as interest in property purchase increases.
The Rightmove website yesterday reported its busiest week, with page views at 134 million in the week to July 11.