The Telegraph - Property buyers face wait to purchase as surveyors battle backlog
Homebuyers face a frustrating wait to complete their purchases, despite the Government ban on surveyors visiting properties being lifted.
Adam Williams writes in his article for The Telegraph that the housing market was kickstarted on Wednesday after the Government said it would allow property transactions to resume. However, there are fears that it could be weeks before many would-be buyers will benefit from the re-opened market.
Aaron Strutt, of Trinity Financial, told The Telegraph that some banks would have tens of thousands of existing cases to deal with before they could open up physical valuations to new customers.
“Banks will start to slowly lower their deposit requirements but they need to get through the valuation backlog first.”