BEWARE, The latest, Nasty Trap in the HOME BUYING Business!

There comes a point in the tortuous process of buying and selling a house when you are prepared to do, or pay, almost anything in order not to break the chain. It occurs somewhere late in the wretched end game, when both properties are under offer and the agreed exchange date is rapidly approaching.

It’s a torrid period, made worse by pernickety solicitors and the seemingly endless time it takes for local authorities to reply to search inquiries.

Will we be gazumped? What will our buyers damp report say? Will they pull out unless we knock some money off?

Now, though, something vise has emerged to make the business even more stressful for the punters and even more lucrative for the professionals: Building Regulations undemnity. It sounds so utterly, mindnumbingly dull as to be harmless but in the past 18 months it has put up the cost of conveyancing for you and me and lined the pockets of insurers.

Telegraph Property