Buyers face gazundering conundrum
Tue 6th May, 18:11:25 BST
Gazundering is becoming more widespread with one in six people now saying they have experienced the practise.
UK house prices are continuing to fall month-on-month and according to a study undertaken by the price comparison website Fool.co.uk the practise of decrease an offer once it has been accepted is on the rise.
Over half of the people who took part in the survey (58 per cent) felt that the practice of gazundering was unethical and called for it to be made illegal.
However, Donna Werbner, property expert at Fool.co.uk, said: "If the seller''s property is no longer worth the amount that has been offered, then maybe holding the other party to the original offer is not all that honourable or admirable either."
Fool.co.uk compares the prices on numerous products including credit cards, loans, mortgages and utility bills. It also offers advice on the best ways to save money and how to avoid getting into debt.
UK house prices are continuing to fall month-on-month and according to a study undertaken by the price comparison website Fool.co.uk the practise of decrease an offer once it has been accepted is on the rise.
Over half of the people who took part in the survey (58 per cent) felt that the practice of gazundering was unethical and called for it to be made illegal.
However, Donna Werbner, property expert at Fool.co.uk, said: "If the seller''s property is no longer worth the amount that has been offered, then maybe holding the other party to the original offer is not all that honourable or admirable either."
Fool.co.uk compares the prices on numerous products including credit cards, loans, mortgages and utility bills. It also offers advice on the best ways to save money and how to avoid getting into debt.
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