Tips to avoid 'ghost gazumping'
Earlier this week Trinity Financial contributed to The Daily Telegraph's story discussing the growing trend of 'ghost gazumping'.
This is where a buyer has agreed a price to buy a property, only for the cost to be raised just before contracts are exchanged, normally because the seller demands more money for the property.
Aaron Strutt, product manager at Trinity Financial, told The Daily Telegraph: "While this may not be a nice thing for sellers to do, they are allowed to increase their asking price at any point until the contracts have been exchanged. "
If you need a mortgage, it is important that you do your research and apply to the right lender. Some of the biggest high street banks currently have large processing delays and this could be a significant problem if you need to complete quickly.
April 3, 2014
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