28 Oct

Think carefully before buying off-plan, expert advises

Think carefully before buying off-plan, expert advises

People hoping to buy a house for sale in Exeter before it has been built have been advised to treat the idea with caution.

Helen Adams, managing director of FiirstRungNow.com, explained that there is little protection available for those looking to buy off-plan.

As a result, she believes it to be a risky move and one that people give careful consideration to, especially given the current economic instability in the UK.

Ms Adams explained that at the moment, "lots of companies are going to the wall and whilst in the past it has been advantageous to get in early, there are certainly risks to it at the moment".

She advised those looking to take the first steps on to the property market to purchase from a large, reputable company which is secure and likely to be around for a significant period of time.

In September the Financial Services Authority released its quarterly mortgage lending statistics and revealed that the total value of outstanding loans is now £1,200 billion.ADNFCR-1222-ID-19431324-ADNFCR

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