Conveyancing remains biggest barrier to smooth property transactions, Lyons Bowe finds
A survey of 1,000 recent homebuyers found conveyancing was cited more than twice as often as property chains, which were identified as the biggest barrier by 19%.
Conveyancing has been named as the biggest barrier to a smooth property transaction by 42% of recent homebuyers, according to research from Lyons Bowe.
The survey of 1,000 recent homebuyers found conveyancing was cited more than twice as often as property chains, which were identified as the biggest barrier by 19%.
Among those highlighting issues during the legal stages of a transaction, 23% said slow communication between buyers’ and sellers’ conveyancers was the leading cause of delays.
Almost half (49%) of respondents said conveyancers had the greatest influence over whether a property transaction progressed smoothly.
However, 33% said responsibility did not sit with a single party and that an efficient transaction required everyone involved to work together.
When asked which improvements would have made the biggest difference to their most recent transaction, 24% cited faster responses from and between conveyancers.
A further 20% wanted better communication between all parties, while 17% said having more legal and property information available upfront would have improved the process.
The research also found 42% of buyers felt they had the least visibility over their transaction during the conveyancing stage.
Almost a quarter (23%) said reducing the length and complexity of the conveyancing process was the single change they would make 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.
“The survey findings show why that matters. 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.”
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