Homebuyers see conveyancing as a bigger obstacle to a smooth property transaction than chains, new research suggests.
A survey commissioned by Lyons Bowe found that 42% of respondents identified conveyancing as the biggest barrier. By comparison, 19% pointed to property chains.
The findings put communication between conveyancers firmly in the spotlight. Almost a quarter (23%) blamed slow communication between buyers’ and sellers’ conveyancers for delays during the legal process.
For estate agents already dealing with lengthy sales progression, the research also highlights buyers’ expectations over who should keep transactions moving.
Almost half (49%) said conveyancers have the greatest influence over whether a transaction progresses smoothly.
However, a third (33%) said no single party carries that responsibility. Instead, they believe everyone involved needs to work together effectively.
Buyers call for faster communication
When researchers asked what could have improved their most recent transaction, 24% chose faster responses from and between conveyancers.
A further 20% wanted better communication between all parties. Meanwhile, 17% said earlier access to legal and property information would have helped.
The survey also highlighted concerns about visibility during transactions.
Some 42% said they had the least visibility during the conveyancing stage. This made it harder for them to understand what was happening with their purchase.
Almost a quarter (23%) said they would shorten and simplify the conveyancing process to improve the homebuying experience.
Paul Lyons, managing director at Lyons Bowe Solicitors, said: “Buying a home is a significant financial and emotional commitment, so it is understandable that people want greater certainty about what is happening with their transaction and when they can expect it to progress.
“Conveyancing will always involve legal complexity and depend on information coming from a number of different parties, and while this means things can take longer than buyers and sellers might hope for, it does not mean the process needs to feel opaque or unnecessarily difficult for the client.”
He added: “Buying a home is stressful, especially when you’re working to a deadline. So an easy, smooth transaction is not simply about completing the legal work quickly, it is about making sure everyone involved has the information they need and that the client is kept informed throughout.”
FindOutNow conducted the research for ProperPR on behalf of Lyons Bowe. The survey covered 1,046 UK homeowners who had bought a property during the previous two years.
The remaining passive constructions are mainly inside Lyons’ direct quotes, so I would leave those alone rather than change attributed wording.
Comments (2)
Once an offer has been accepted, there’s so many people throwing grenades at the sale there’s no wonder the process is delayed. It’s not just on the Conveyancers and errors occur in all instances. The process is too long winded.
Conveyancing is certainly part of the problem, but suggesting that conveyancers have the greatest influence over whether a transaction progresses smoothly perhaps stretches the point a little.
There are many players involved in a property transaction, lenders, agents, surveyors, search providers, regulators, HM Land Registry, local authorities, management companies, the public and others, and conveyancers have very little control over how quickly, or how efficiently, some of those participants respond and behave.
Interestingly, the research itself reflects this to some extent. While 49% of respondents said conveyancers have the greatest influence over whether a transaction progresses smoothly, 33% said that no single party carries that responsibility and that everyone involved needs to work together effectively.
That is very much the thinking behind the Conveyancing Improvement Collective.
We held our first roadshow in Solihull last night. We had no idea quite how it would go, but the response was extremely encouraging. The audience of experienced conveyancers were honest and open about the problems they face and, despite everything discussed, surprisingly upbeat about the future.
What was particularly encouraging was, despite the job’s challenges, just how passionate those in the room remain about doing a good job for their clients.
There was plenty of feedback for us to consider and, importantly, to take to the various other parties who have an influence on the process, including lenders, regulators, the Law Society, Government and others.
There will be more roadshows this year and next. And following the discussion in Solihull, we also agreed that inviting estate agents to future events would be a positive step.
If we genuinely want to improve the home-moving process, it probably shouldn’t be about finding someone to blame. It should be about getting all the people involved around the same table and working out what each of us can do better.