Property regrets for 1 in 5 claims report

Property regrets for 1 in 5 claims report

Not saving enough, getting into debt and being unable to earn more are the biggest financial mistakes people make suggests new research. However, one in five regret choices around property.

Specialist Insurer - Partnership – asked 2,000 people what they felt their biggest financial mistakes were and while 5% said they had not made any mistakes, the vast majority of people wished they had made different choices.   Up to 23% highlighted choices around property as ones that they feel they had not made wisely.

Indeed, 9% said they regretted putting money into an investment (including property) which did not perform as they had expected and 7% said that delaying buying a house was their biggest mistake.  Others felt that purchasing a property that was not ‘good value’ (5%) and delaying remortgaging (2%) were choices they wished that they could make again.


Biggest Financial Mistakes Linked to Property

All

18 - 39

40 plus

I put money into an investment (inc. property) that did not perform

9%

5%

12%

I delayed buying a house

7%

6%

7%

I bought a property which was not 'good value'

5%

6%

4%

I did not re-mortgage when I should have

2%

2%

2%

 

In addition, one in 10 regrets getting married and subsequently divorced.  This is often a situation which means that the family home needs to be sold so the number of people who are unhappy about choices that they have made around property may well be far higher.

Mark Stopard, Head of Product Development, Partnership said “Up to one in five regret choices that they have made around property which is understandable as for most people buying a home will be the single largest purchase decision they will make in their lives.  However, when you look at what these mistakes were, some of them could have been avoided if they spoke to a mortgage broker.

A good broker would not only highlight when the best time to remortgage is but also warn people about overextending themselves and putting choices on hold – problems which could well be the root causes of some of these regrets.”

Leave Your Comment

Your email address will not be published.
Required fields are marked *



Latest Comments

Paul
Paul 25 May 2016

Estate agents are pathetic when it comes to fees. They have this 'I had to do it at 1% because that's what the others were quoting' mentality. We are the most expensive agents in our area, charging double...

view article
HMO Midlands Landlady
HMO Midlands Landlady 24 May 2016

Tenants disappearing into the night is common from shared houses ( licensed and un-licensed HMO's) often when they owe considerable rent- they remove all their possessions, leave key in room and tell other...

view article
CommercialTrust
CommercialTrust 20 May 2016

With the bulk of the market controlled by large developers, profit rather than necessity determine the pace at which homes are built. There are hundreds of thousands of plots that have planning permission...

view article
Johna
Johna 20 May 2016

"Easier said than done" is what I would say. Of course, it would be more than great to have more in quality and affordability, but I do not trust talk anymore.. What is said is not what is happening.

view article
Johna
Johna 20 May 2016

in my humble opinion being fair like THE most important! I myself have had bad experience with unfair landlords... not to mention that I know how to do a proper end of tenancy cleaning since I am a fantastic...

view article
richardrawlings
richardrawlings 18 May 2016

NB - even if we doubled our commission levels in the UK, we'd still be by far the cheapest agents in the entire world.

view article
Agent_PeeBee
Agent_PeeBee 18 May 2016

Clueless. Someone needs to take these people's computers away from them so they can do no more harm than they already have.

view article
richardrawlings
richardrawlings 18 May 2016

Nonsense! The cost of selling a house nowadays has little bearing on the fees charged. Don't believe your own spin on this. Fees have spiralled down to pathetic levels in areas where weak agents have allowed...

view article
Simon Oliver
Simon Oliver 16 May 2016

The best solution is to buy a property that has built-in income generating potential: a nice house with a couple of gites in the grounds is a good start. In France, the rune of thumb is that one 2-bedroomed...

view article
WPD
WPD 12 May 2016

I suggest the answer is to have the notary system being one legal person who represents both parties. Having experienced it a couple of times in France it was a dream compared to our dysfunctional system....

view article
warren
warren 03 May 2016

It's enough to make me weep into my Pimm's :(

view article
james anderson
james anderson 03 May 2016

The sad demise of the croquet lawn...

view article

Related stories

More articles from Finance