Data published in the Barclays Property Insights report reveals that broken house-buying chains are increasing average moving costs by 43%. This includes extra conveyancing and survey fees.
A third of UK home sales involve a chain, with 46% of transactions either delayed or broken. The average cost of moving expenses is £4,954, but chain breakdowns add, on average, an extra £2,127, which is 43% more. Some buyers report that these additional costs have deterred them from future moves.
Buyers or sellers withdrawing from deals accounted for 22% of house sales falling through. Additionally, around 13% of buyers were gazumped by others offering higher prices.
Due to the high number of failed house-buying chains, 15% of sellers say they are more likely to accept cash offers or from first-time buyers with no chain. Major mortgage lenders are now offering high loan-to-value mortgages, making it easier for first-time buyers to afford a home. However, the average deposit required from first-time buyers remains high at £62,272.
Despite the risks of house chains collapsing and the high deposits required, Jatin Patel, head of mortgages, savings and insurance at Barclays, states that the start of 2026 looks promising for home buyers. Many property transactions are expected to conclude in the first half of the year.
If your home-buying transaction is to be completed soon, it’s time to speak with a Liverpool removal company like us at Merseyside Movers & Storers about how we can assist in moving your belongings.
