Conveyancing causes more stress than property chains, research reveals

Conveyancing is the biggest barrier to a smooth property transaction, homeowners claim.

A survey of more than 1,000 homeowners who purchased a property in the past two years found that 42% believe conveyancing to be the biggest factor in slowing down or hindering a smooth transaction.

When asked why, the most common response was slow communication between buyers’ and sellers’ conveyancers, with 23% of respondents saying it was the leading cause of things taking longer than they should throughout the legal stages of a transaction.

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.”

When asked who has the greatest influence over whether a property transaction progresses smoothly, almost half of recent buyers – at 49% – pointed to conveyancers. However, 33% said that responsibility does not sit with any single party and that a smooth transaction requires everyone involved to work together efficiently.

Only 19% of respondents highlighted property chains as an issue.

When asked how the process could be most improved, a quarter – at 24% – of respondents said faster responses from and between conveyancers would have made the biggest difference to the efficiency and speed of their most recent purchase.

Better communication between all parties was cited by a further 20%, while 17% said having more legal and property information available upfront would have improved the process.

Poor visibility

A lack of visibility may also be contributing to homeowners’ frustrations with conveyancing.

Some 42% of buyers said that their own visibility of the process was at its lowest during the conveyancing stage, making it difficult for them to know and understand what was happening with their purchase.

Asked what single change they would make to improve the experience of buying a home, almost a quarter of respondents – at 23% – said they would reduce the length and complexity of the conveyancing process.

Paul Lyons (pictured), Managing Director at Lyons Bowe Solicitors, which conducted the research, says: “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.

Legal complexity

“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.

“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.”