29 Dec

High speed rail route remains uncertain

High speed rail route remains uncertain

The ongoing uncertainty surrounding the high speed rail route in the north of England is not helping homeowners and buyers, claims the conveyancing industry.

Findings from Groundsure show there is little confidence in the consultation process for the new rail link and it is vital for the government to clarify the plans.

Almost 50 per cent of property conveyancers in the UK believe that the consultation has been poor, with 14 per cent expressing that it has been extremely low quality and caused concern.

The transport route was first revealed in 2013, but a number of reviews and ongoing debates over the location of stations has led to significant delays.

“Home buying is already difficult and costly, particularly following recent changes to stamp duty and market uncertainty around Brexit,” said Eddie Goldsmith, chairman of the Conveyancing Association.

“But it is important that those home buyers use environment searches to bring confidence and certainty to, what is likely to be, their largest financial investment. It seems unfair on those homebuyers who are referring to the most accurate report available, that the HS2 route information cannot provide certainty.”

James Sherwood-Rogers, chairman of Council of Property Search Organisations (Copso), added: “The final route could have a significant impact on nearby properties, and mortgage companies may be wary of lending until the route is finalised. Uncertainty about the route needs to be addressed as soon as possible in 2017.”ADNFCR-1222-ID-801830491-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.