Vendors face 50% chance of sale falling through

Property sellers face a one in two chance of their sale falling through, research from Quickmovenow.com reveals.

The firms latest Fall Through Index (FTI) shows that fall-through rates have doubled since their records began in 2006.

Quickmovenow.com blames the current market conditions, for these failings.

Hywel Luke, managing director, Quickmovenow.com said: “This gives us a real indication of how market conditions are affecting homeowners looking to sell their property and, as with most market indicators, the FTI outlook for the near future is poor.

“Back in 2006 and early 2007 the market was extremely competitive. Buyers’ would do anything to secure a property and were able to stretch mortgagees to the limit as well as get easy access to temporary bridging finance. Since August 2007 the market has hardened which has led to sales taking longer to agree and an increasing ratio of collapsed chains” explains Luke.