Almost one in five Brits have pulled out of a property purchase
- Top reasons include major repairs, failed negotiations, and mortgage issues
- Compare My Move shares expert tips to help buyers save money and avoid moving-day regrets
Buying a home is one of life’s biggest decisions, but new research reveals how often those decisions are reversed. A survey by home moving comparison site Compare My Move has found that 19% of Brits have pulled out of a property purchase after putting in an offer.
According to the nationally representative survey of 2,000 UK adults:
- 19% of Brits have pulled out of a property deal after having an offer accepted.
- 21% of men and 17% of women have backed out of a purchase.
- The highest rates were found in the South West (27%), London (26%), and West Midlands (26%).
- The top reason was the discovery of major repairs needed (46%), followed by failed renegotiations (30%), and mortgage issues (29%).
Whether it’s rising costs, unforeseen damage, or lending complications, many buyers are facing tough calls before exchanging contracts, and the cost of walking away can be high.
Dave Sayce, co-founder and Managing Director of Compare My Move, said of the findings:
“Buying a home is emotional, expensive and not without its pitfalls. Our data shows just how many people are forced to pull out – often due to issues that could have been spotted earlier or planned for. The more informed you are, the more confident you’ll feel about your decision – and the more likely you are to see it through.”
To help Brits navigate the process and avoid costly surprises, Dave shares his top five money-saving tips when moving home:
1. Get a detailed survey
Don’t skip the property survey. A Home Buyer report or full building survey can highlight costly repairs early – helping you negotiate or rethink before it’s too late.
2. Budget for unexpected costs
Legal fees, moving costs, new furniture… the list goes on. Set aside a contingency fund so you’re not caught short.
3. Compare conveyancers and surveyors
Use platforms like Compare My Move to find vetted professionals at competitive prices (saving hundreds on average).
4. Lock in your mortgage rate early
Speak to a broker to get the best deal and secure your rate. Mortgage delays or rejections are one of the biggest causes of failed sales.
5. Declutter before you move
It sounds simple, but the less you take, the less you pay. Removal quotes are often based on volume. So, lighten the load and save!
Whether you’re upsizing, downsizing or buying your very first home, this research is a reminder that being prepared can make all the difference.
To compare trusted services and save on every step of your move, visit: www.comparemymove.com
