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‘It’s the archaic legal process that causes transactions to fail’ – Star Letter 22/12/2017

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  • 22/12/2017
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‘It’s the archaic legal process that causes transactions to fail’ – Star Letter 22/12/2017
Each week Mortgage Solutions and its sister title Specialist Lending Solutions select the most thoughtful or though-provoking comment to be the week’s Star Letter.

This week our Star Letter accolade is awarded to Robert Gill for his response to the post: Government eyes recommending a DIP before making an offer – Goldsmith.

He said: “Hang on, most buyers do get a decision in principle (DIP) before putting an offer in on a house, it’s the archaic legal process that causes 30% of transactions to fall through.

“Make vendors pay for surveys before listing, make offer acceptance binding. Or to make it easier just copy the perfectly good system that operates in Scotland.”

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