The Council of Mortgage Lenders is urging the Government to look carefully at the new home information packs for house sellers set to become compulsory from 2007.
In this new bill, the seller is responsible for having surveys etc done instead of the buyer. The CML has described the costs as potentially too much.
Our view
Home Seller Packs are a burden on the seller which in turn the costs will be passed onto the purchaser. This will not make home purchase easier. The only people who will win are Surveyors as the property inevitably will end up being surveyed twice and a solicitor will end up doing searches twice.
1) One lender may not have the sellers surveyor on their panel of surveyors
2) If you were a purchasers solicitor would you rely on searches done by the vendors solicitor?