28
Oct
Think carefully before buying off-plan, expert advises
People hoping to buy a house for sale in Exeter before it has been built have
been advised to treat the idea with caution.
Helen Adams, managing director of FiirstRungNow.com, explained that
there is little protection available for those looking to buy
off-plan.
As a result, she believes it to be a risky move and one that people
give careful consideration to, especially given the current
economic instability in the UK.
Ms Adams explained that at the moment, "lots of companies are going
to the wall and whilst in the past it has been advantageous to get
in early, there are certainly risks to it at the moment".
She advised those looking to take the first steps on to the
property market to purchase from a large, reputable company which
is secure and likely to be around for a significant period of
time.
In September the Financial Services Authority released its
quarterly mortgage lending statistics and revealed that the total
value of outstanding loans is now £1,200 billion.