House buyers face repair bills
12:04am Friday 16th May 2014 in © Press Association 2014
House buyers are spending thousands of pounds on repairs after discovering unexpected problems such as damp and structural defects after moving in, according to a study.
A survey of more than 1,000 recent purchasers found that many found damp had been painted over, and furniture or pictures had been moved to cover damage.
Insurance firm LV= said half of those polled found problems which had not been mentioned by the previous owners, such as blocked pipes, faulty electrics or damaged drains.
The report said the problem had been made worse because buyers were under increasing pressure to make an offer without thoroughly checking a property as the housing market has become so buoyant.
Selwyn Fernandes, managing director of LV= home insurance, said: "Buying a home is a huge investment and yet many buyers now feel pressured to rush into a sale without checking a property thoroughly. Serious faults are difficult to identify and can be very costly to put right."