The pessimists – bears in stock market parlance – say the bull run of the last year has come to an

The pessimists – bears in stock market parlance – say the bull run of the last year has come to an end and that the prospect of a Labour government will hold back share prices for the forseeable future. “You wouldn’t buy a second-hand car unless you knew what you were getting,” he said. And if you discover any problems, this can help bargain down the sale price.. FOLLOWING last week’s stock market jitters, many thousands of savers will be hesitating over whether to use their PEP allowances before the 5 April end-of-tax-year deadline. For more complicated transactions you will probably still need a solicitor. Expect to pay around pounds 350 for this service.o Buyers are offered three levels of survey: the lender’s report, often done for free; a house buyer’s report at pounds 100 to pounds 150; or a full structural survey costing, on average, pounds 300 to pounds 400. But Tony Copping Joyce, of Copping Joyce Chartered Surveyors, said it is a false economy to try and rely on the building society’s report alone Buying a property is an big investment.

Patrick Bunton, of mortgage brokers London and Country, says licensed conveyancers charging as little as pounds 100 plus VAT are a good idea if you can ask your mortgage lender for recommendations based on its experience. If you move everything yourself, you can hire a self-drive cargo van, capacity 850 feet, for pounds 110 a day.o With a reputable operator and a straightforward transaction, conveyancing fees can be reduced without damage to the quality of service. That was pounds 110,000.”For their money, the Ellises were provided with a Loot sale board outside their house, daily adverts in the London edition of Loot for three months, a sellers’ kit and a free legal advice line. “We believe we are doing more for the housing market than simply reducing interest rates,” says David Charlton, of Skipton. “We think it is a great statement for mutuality [ownership of the society by its customers, called members rather than by shareholders] because it helps existing as well as new borrowers.”But other lenders, which are also trying to fly the flag of mutuality by offering added extras to members, are not convinced.

David Homes of Yorkshire Building Society says “free insurance only benefits a small proportion of our members”.Similarly, a Bradford & Bingley spokeswoman says: “The problem is that the people who take up this cover are the ones most likely to claim on it. We think it is quite an expensive use of members’ money in terms of what you get for it.”The fact that a number of lenders think this insurance is relatively poor value should ring alarm bells with borrowers. Even Sue Anderson of the Council of Mortgage Lenders, the lenders’ trade body, says: “It is not a universal panacea, although we would urge people to think seriously about it.”Research commissioned last year by the Department of Environment found that while job loss was the single most common cause of arrears, there was no evidence that mortgage payment protection policies were an effective mechanism for preventing arrears, nor that the policies had the potential to give a widely available, affordable and effective safety net.Certainly there are still serious drawbacks.The first is that the insurance is only short term, even though most borrowers think they are buying to cover a long-term risk. Those with more expensive properties, or with properties that are harder to sell, may still do better going to the estate agent But do shop around to find the most competitive commission.

Be aware that having just one representative – a “sole agent” – can be at least 1 per cent cheaper than multiple agencies.There are several other areas in which savings can be made:o Removal companies charge from pounds 250 up to pounds 800 for a three-bedroom house, plus VAT and insurance. It will list your house details for pounds 20 a week.Private sale is probably easier at the lower end of the market – Loot’s highest price to date is pounds 150,000. Free design is usually available on request, and they can use your photos.The Birmingham Post and Mail last week launched a service on Teletext for the Central TV area. A small classified ad costs anything between pounds 10 and pounds 40, depending on circulation Larger displays cost more. You lose the benefit of the estate agent’s valuing and bargaining skills and you have to be careful of the way you describe your property, so as not to run into trouble under the Property Misdescriptions Act.Instead of Loot you may wish to use a local paper or freesheet But with these you will have to pay by the insert. There are 24 editions in the UK and Ireland, with a total weekly circulation of half a million. In this case you will probably need to supply a sale board yourself.Loot, which has already captured 70 per cent of the London rental market, is now aiming high in the house-selling market.The obvious downside of using the paper is that you have to show people round the property yourself and be more involved on the administrative side – like mailing out details.