Back to blog

How to prevent a house purchase falling through


According to a recent study, over the last ten years almost a third of people who have had an offer on a property accepted have seen the sale fall through before completion. As a buyer, find out how you can prevent a house purchase falling through.

The study, commissioned by Market Financial Solutions, surveyed 2,000 people and found;

  • Two fifths of fall throughs was due to a breakdown in the chain
  • A third was due to delays in getting their mortgage delivered by a bank
  • 16% fell through because their lender rescinded the mortgage agreement, despite having an agreement in principle

Ways to prevent a house purchase falling through

  1. Resist over stretching your budget.
  2. Be open and honest about your finances from the start including deposits.
  3. Factor in costs of work required, stamp duty tax and solicitor/mortgage fees.

Expert advice to avoid purchase falling through

To avoid a house purchase falling though, John German’s very own Sales Progressor Sharon Allardice, Sales Progressor offers her expert advice:

“If you are purchasing your house with a mortgage, be open and honest about your finances from the start. It isn’t uncommon for people to overstate their income or forget to mention other financial commitments that will affect the amount they can borrow when gaining an Agreement in Principle (AIP). Whilst the bank/lender may offer you an AIP, there could be issues obtaining an actual mortgage offer if you do not have the required paperwork proving your income. The longer it takes to obtain a mortgage can increase the chance of others from pulling out a sale due to delays in the chain.

My advice is to be mindful of any work a property requires and to not over stretch your finances. Ask yourself “is this a bridge too far?”. I see sales fall through further down the line when a buyer has gets cold feet after considering the cost implications of work required on a property. This causes problems for everyone in a chain, not only financially with solicitor fees, but also emotional stress and heartache.

So overall, the best way to avoid delays and your purchase falling through is to have a clear idea what you can afford to take on from the outset.” concludes Sharon.

Back to blog

Date Posted

May 29, 2019

Article Category


Katy Storer

Share this article:

Keep up to date with the latest advice sent to straight to your inbox