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Moving infrequency leads to lack of property knowledge

Here at Winkworth we have seen an encouraging upturn in enquiries from home sellers and buyers of property for sale in Northampton. While property stories are always in the news, the fact remains that for most, moving home is a milestone event that doesn't happen very often. In fact, research from mortgage and loan broker Ocean Finance revealed that one in ten of the UK's residents haven't moved for the last 30 years. If you live in the East Midlands, you are the group of people most likely to stay put in your current home, with 70% of the region's residents saying they have lived in the same property for more than 15 years. With moving home such an infrequent event, it's no surprise that sellers and buyers of houses for sale in Northampton might be a bit 'rusty' when it comes to the moving process and the language used in the property industry. A new survey by property law specialist Slater and Gordon found that one in six British residents had no idea about their rights and obligations when buying a home. Shockingly, 45% of respondents said they were 'not sure' what a conveyancer actually does, and 39% didn't know whether they need one to buy or sell a home. The survey, which questioned 2,000 people who planned to buy a home in the next ten years, also found that one in six people didn't know what an exchange of contracts involved or whether this came before or after completing on a sale. The survey highlights the need for home movers to select an informed, professional Northampton estate agent who can confidently advise on all aspects of the buying and selling process. Here at Winkworth every one of our staff can explain in plain English what is involved in buying a property for sale in Northampton, as well as in the sales process and entering into a buy-to-let agreement. Below is the top 10 of confusing property facts. If you'd like an explanation or clarification of any of these points, contact Winkworth today and we'd be delighted to explain. Top 10 confusing property facts 1. 73% admit they know very little or nothing about the legalities of buying or selling a home 2. 75% of Brits don't know what a conveyancer does 3. 77% don't know when they are required to pay the deposit on a home 4. 59% don't know when a sale is legally binding. 5. 38% don't know the difference between leasehold and freehold property 6. 32% don't know that the owner of a leasehold property is required to pay ground rent to the freeholder 7. 18% don't understand the terminology 'exchange of contracts' 8. 16% don't know what 'completion' means when it comes to buying or selling a home 9. 51% don't know what gazumping is and 20% don't know it is legal 10.61% don't know what gazundering is and 17% don't know it is legal

Here at Winkworth we have seen an encouraging upturn in enquiries from home sellers and buyers of property for sale in Northampton. While property stories are always in the news, the fact remains that for most, moving home is a milestone event that doesn't happen very often.

In fact, research from mortgage and loan broker Ocean Finance revealed that one in ten of the UK's residents haven't moved for the last 30 years. If you live in the East Midlands, you are the group of people most likely to stay put in your current home, with 70% of the region's residents saying they have lived in the same property for more than 15 years.

With moving home such an infrequent event, it's no surprise that sellers and buyers of houses for sale in Northampton might be a bit 'rusty' when it comes to the moving process and the language used in the property industry. A new survey by property law specialist Slater and Gordon found that one in six British residents had no idea about their rights and obligations when buying a home.

Shockingly, 45% of respondents said they were 'not sure' what a conveyancer actually does, and 39% didn't know whether they need one to buy or sell a home. The survey, which questioned 2,000 people who planned to buy a home in the next ten years, also found that one in six people didn't know what an exchange of contracts involved or whether this came before or after completing on a sale.

The survey highlights the need for home movers to select an informed, professional Northampton estate agent who can confidently advise on all aspects of the buying and selling process. Here at Winkworth every one of our staff can explain in plain English what is involved in buying a property for sale in Northampton, as well as in the sales process and entering into a buy-to-let agreement.

Below is the top 10 of confusing property facts. If you'd like an explanation or clarification of any of these points, contact Winkworth today and we'd be delighted to explain.

Top 10 confusing property facts

1. 73% admit they know very little or nothing about the legalities of buying or selling a home 2. 75% of Brits don't know what a conveyancer does 3. 77% don't know when they are required to pay the deposit on a home 4. 59% don't know when a sale is legally binding. 5. 38% don't know the difference between leasehold and freehold property 6. 32% don't know that the owner of a leasehold property is required to pay ground rent to the freeholder 7. 18% don't understand the terminology 'exchange of contracts' 8. 16% don't know what 'completion' means when it comes to buying or selling a home 9. 51% don't know what gazumping is and 20% don't know it is legal 10.61% don't know what gazundering is and 17% don't know it is legal

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