Prepare to take strain in chain
CONVEYANCING experts say the average length of chains involved in housing transactions in the UK is increasing.
Irwin Mitchell says that for the past few years the majority of transactions have been one-off purchases or smaller two-property chains. But the average number of groups involved in a single housing transaction is now increasing to levels more common five years ago.
Helen Hutchison, a specialist conveyancing lawyer at Irwin Mitchell, says: “It shows that the market is picking up because we are moving away from a time when the only purchasers were those that had the cash or deposit in place to be able to buy without selling their own property. House prices are also increasing.”