Recent research has revealed that while a majority of homeowners express satisfaction with their conveyancers, significant concerns about the conveyancing process persist.
A recent survey conducted by the HomeOwners Alliance highlights that 71% of homeowners are satisfied with their conveyancers, yet there is a clear deterioration in service levels over the past five years. Of those surveyed, 1,326 were homeowners, and their experiences suggest a demand for improvements in how conveyancing is handled.
Notably, 74% of participants who purchased a home within the last five years indicated their willingness to use the same legal services again. However, 78% also acknowledged that enhancements are necessary, particularly in accelerating the overall process. Delays remain a predominant issue, with 43% of respondents citing them as a primary concern. This sentiment is more pronounced among those who bought their homes recently, reflecting a shift in expectations.
For older property buyers, improvements such as more frequent communication, clearer explanations, and better fee transparency were less of a priority. In contrast, recent buyers are more vocal about the potential benefits of measures like app notifications and extended service hours.
A significant insight from the survey is the gap in understanding regarding the conveyancing process. While 77% have encountered the term ‘conveyancing’, only 53% have a solid grasp of what it entails. Misconceptions are prevalent, with nearly half unaware of the dual role conveyancers play in representing both buyers and mortgage lenders. Moreover, 38% mistakenly believe that conveyancers are responsible for assuring structural soundness of properties.
Recommendations from brokers, family, and estate agents remain the leading methods for choosing conveyancers, alongside traditional high street firms and online platforms.
Amidst these findings, the government has acknowledged the slow, costly, and stressful nature of the current home buying and selling processes. Housing minister Matthew Pennycook emphasised the necessity of modernising the system to benefit consumers and the broader economy. He noted ongoing efforts by HM Land Registry to digitise local authority searches, potentially expediting transactions significantly.
This research underscores a pressing need for reform in the conveyancing sector, with both consumers and the government recognising the potential benefits of a streamlined, modernised process.
