Homeowners fail the key question

Published on

first time buyers purchase

58% of homeowners in the country didn’t change the locks when they purchased their property – meaning that they couldn’t say for certain who has access to their home, according to research from Ocean Finance.

Ocean Finance’s research reveals that only 30% changed the locks on all exterior doors when they bought their property. A further 12% changed the locks on some of the exterior doors.

Consumer Intelligence questioned a nationally representative sample of 2,061 adults aged 18 and over between 5th and 6th November 2013.

Ian Williams from Ocean Finance said: “Most, if not all, homeowners would say that securing their house was very important to them. So it’s really odd that we don’t take the basic precaution of changing the locks. We seem prepared to take it on trust that the vendors and estate agents have given us all the copies of the keys.”

City dwellers seem less trusting, with 48% of them changing all the locks when they moved in. People from more rural communities such as Devon and Cornwall seem more relaxed, with 70% leaving the locks unchanged.

Young people (those under 25) seem significantly more likely to change the locks when they buy a home, with 54% changing some or all of them. By contrast, 41% of people over 65 said they did the same when they last moved.

Williams added: “For most people, buying a house is the largest purchase they’ll ever make. So spending a few extra pounds just for the peace of mind of knowing who has a key to it seems sensible. For those with a burglar alarm, changing the de-activation code would also be a wise precaution.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Skipton to cut residential rates and revive three-year fixes

Skipton Building Society is cutting rates across parts of its residential mortgage range from...

The Leek lowers mortgage rates across residential and specialist products

Leek Building Society is cutting mortgage rates across parts of its residential, shared ownership,...

Fleet Mortgages adds two-year tracker products to buy-to-let range

Fleet Mortgages has launched three new two-year tracker mortgages at 75% loan-to-value across its...

Norton Home Loans provides remortgage on PRC home in Southampton

Norton Home Loans has completed a £218,000 remortgage for joint applicants in Southampton, allowing...

Scotland attracts rising interest from GCC property buyers

Scotland is becoming an increasingly popular destination for Gulf buyers looking at UK property,...

Latest publication

Other news

Skipton to cut residential rates and revive three-year fixes

Skipton Building Society is cutting rates across parts of its residential mortgage range from...

The Leek lowers mortgage rates across residential and specialist products

Leek Building Society is cutting mortgage rates across parts of its residential, shared ownership,...

Fleet Mortgages adds two-year tracker products to buy-to-let range

Fleet Mortgages has launched three new two-year tracker mortgages at 75% loan-to-value across its...