Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

Nearly Half of UK Sellers Face Broken Property Chains, Survey Finds

A recent survey by House Buyer Bureau has revealed that 45% of UK home sellers involved in a property chain experienced a break during the sales process. The research, based on responses from 1,072 UK home sellers, highlights the ongoing challenges faced by those navigating property chains.

The survey, commissioned by ProperPR on behalf of House Buyer Bureau, found that 52% of respondents were part of a property chain when selling their most recent home. Of these, 45% encountered a chain break. In 38% of cases, the chain was eventually restored after a buyer or seller dropped out, while 7% saw their chain collapse completely.

Buyer indecision was identified as the leading cause of chain breaks, accounting for 60% of incidents. This was significantly higher than other causes such as mortgage or financing problems and sellers changing their minds, both at 8%. Other factors included property surveys identifying problems (6%), conveyancing or legal delays (4%), changing personal circumstances (4%), gazumping (2%), and mortgage lender down-valuations (1%).

The impact of broken chains was notable. Among affected sellers, 36% experienced delays to their property sale, and 24% faced delays to their onward purchase. Additionally, 10% saw their sale fall through, 10% lost money on legal, survey or mortgage costs, and 10% had to find another buyer.

For those who eventually completed their sale, delays were often lengthy. Only 7% completed within a month, while 29% took one to three months. A further 38% waited four to six months, 21% took seven to twelve months, and 5% waited more than a year.

These findings underline the risks and delays that property chains can pose for UK sellers, with buyer indecision emerging as a particularly disruptive factor. The data is relevant for letting agents and inventory clerks who may need to manage expectations and timelines for clients involved in property chains.