76.87% of people impacted by a property chain break in the last 3 years were first-time buyers - What were the top reasons for their chains breaking?
Tuesday 9th August 2022
17.14%
said
Down-valuation
14.31%
said
They were gazumped
11.81%
said
Issue unveiled in the property survey
7.65%
said
The seller of the property they wanted to purchase not being able to find a property
We asked…
What were the top reasons for property chain breaks for 1st time buyers?
Multiple Choice Answers(Randomly shuffled for each respondent) | Answers % | Count | |
Down-valuation | 17.14% | 103 | |
They were gazumped | 14.31% | 86 | |
Issue unveiled in the property survey | 11.81% | 71 | |
The seller of the property they wanted to purchase not being able to find a property | 7.65% | 46 | |
Someone in the chain had a change of heart | 7.32% | 44 | |
Change in circumstances: You had a life event such as illness, redundancy or divorce | 7.32% | 44 | |
Your buyer failing to obtain a mortgage on your property | 5.16% | 31 | |
Gazundered: Your buyer reduced their offer to you prior to exchange | 2.83% | 17 | |
Legal paperwork taking too long and you lost interest in the property you wanted to buy | 2.33% | 14 | |
Other | 1.00% | 6 |
A randomised sample of 601 respondents aged 18+ throughout the UK’s 68,592,949 population (worldometer)
95% confidence. 4% margin of error. Dated: 29.06.22
Source: Finbri Survey