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DIY house sales 'a month quicker'

DIY house sales 'a month quicker'

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People who forego an estate agent and sell their house themselves make the sale a month earlier on average, it has been reported.

Alliance & Leicester Mortgages' movingimproving index has found that 15 per cent choose to put their property on the market via non-traditional methods.

These include specific internet sites (eight per cent), sites like eBay (one per cent), the local newspaper (five per cent) and by word of mouth (eight per cent).

Selling a property in such a way may help people escape debt as well as pick up a more manageable mortgage.

And Stephen Leonard, director of mortgages at the company, commented: The research suggests that DIY methods such as using the internet to sell a home are becoming more popular."

Meanwhile, the managing director of mortgage firm David Titmuss has called proposals for a 50-year mortgage a "well-reasoned, long-term investment", according to Fair Investment Company.

© Adfero Ltd

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