There has been a notable rise in the number of property sales falling through due to tougher mortgage lending conditions, it is claimed.
According to new figures from Quick Move Now, 31% of agreed property sales collapsed prior to completion in the second quarter of the year.
Of the sales that fell through, the property buying firm claims that 30% failed due to buyers being refused funds by mortgage companies. Danny Luke, Quick Move Now’s managing director suggests that this demonstrates growing caution from lenders.
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