“Wars are fought in less time” says agent calling for conveyancing reform
Warren Sanders has set up a petition in his campaign for a complete overhaul of the property buying system.
A senior estate agent is calling for a complete overhaul of the conveyancing system, and has launched a petition to support his campaign.
Warren Sanders, Director at Sanders & Sanders in Warwickshire (pictured), has lost patience with the way the housing market’s selling process currently works.
Outdated
“The housing market is a vital part of the UK economy, and the current system needs to be faster, clearer, and more reliable for everyone involved,” he says.
“The current conveyancing system is widely considered outdated, slow, and inefficient.”
To put this into perspective, the Falklands War was fought and concluded in around 74 day.”
He says Government data shows the average property transaction is around 120 days from offer to completion, with approximately one in three sales failing through before completion.
“To put this into perspective, the Falklands War was fought and concluded in around 74 days – significantly less time than it typically takes to complete a residential property purchase in the UK.
“This highlights just how prolonged and inefficient the current process has become.”
Delays place pressure on estate agents, conveyancers, mortgage brokers and surveyors, he says.
Fall-throughs
Avoidable delays, gazumping, gazundering, and breakdowns in communication, are all problems he identifies.
Sanders says key reforms needed, include mandatory upfront property information before marketing, earlier legally binding commitments in the process, greater digitisation of conveyancing and local authority searches, clear national standards and timeframes for searches and enquiries, and improved transparency and communication throughout transactions.
Stronger accountability for avoidable delays is also required, he adds.
“Other countries complete property transactions more quickly and with greater certainty. There is no reason the system in England and Wales should continue to operate in a way that creates unnecessary delay, cost, and uncertainty,” he says.
He is also calling for comprehensive reform of the homebuying and selling process, publication of up-to-date national data on transaction times and fall-through rates and a clear timetable for implementing modernised conveyancing reforms.
The petition can be signed here – Sanders plans to present it to his local MP.
