The proportion of home movers hit by unexpected costs has surged from 62% to 95% in a year, according to research from PEXA.
Despite the sharp increase, professional fees do not appear to be driving the problem, with 85% of respondents saying conveyancer fees were transparent and 79% saying the same of estate agent fees.
PEXA said the findings instead pointed to uncertainty over the transaction process itself, with additional costs emerging incrementally as sales progress.
Of those who encountered unexpected costs, 64% described them as significant and almost half (47%) believed they could have been avoided altogether.
The research, based on a survey of more than 1,000 UK homebuyers who had moved in the previous 12 months, also found 83% described the process as stressful.
There was a substantial gap between expectations and actual transaction times. Respondents believed the process should take around four months from offer acceptance to moving in, while PEXA said wider market data showed the complete home-moving journey often lasts seven to eight months.
Delays were widely attributed to fragmented processes, repeated checks and disconnected organisations.
The findings come following publication of the government’s Home Buying and Selling Reform Roadmap, as policymakers and the property industry look to improve transparency and connectivity across transactions.
Krystle Kocik, UK co-CEO of PEXA, said: “Our research suggests that improving certainty (not just speed) should be the defining objective of the next generation of UK property transactions, and will benefit estate agents, mortgage brokers, lenders, and conveyancers.
“Achieving this certainty depends not only on better information, but on ensuring trusted property data, verified identities, the secure movement of funds and the transfer of legal ownership are connected throughout the transaction.”
Alison Verlander, director of mortgages at UK Finance, said: “Uncertainty – not speed – is the real barrier to confidence, and better upfront information, reusable verified data and clearer visibility across the transaction are what will shift that.”
Stephen Ward, director of strategy and external relations at the Council for Licensed Conveyancers, said consumers continued to value professional expertise while expecting clearer communication, greater transparency and a more predictable experience.
Ward added: “A modern conveyancing profession will combine legal expertise with efficient digital processes to deliver better outcomes for consumers.”
