Homebuyers are being warned they may not be able to move into their new homes before Christmas, due to hold-ups in conveyancing.
New data that has been issued by the Ministry of Housing lays bare how long conveyancing now takes. The average time is roughly 120 days, which amounts to 17 weeks. This represents a time increase of 60% in comparison with 2007. It also means buyers who want to occupy their new properties for the festive season will need to move quickly.
Prominent legal professionals have stated that September is the time limit for such buyers to instruct conveyancing solicitors in North Wales or England. This will still be a stretch, but gives them a chance of completion ahead of Christmas.
One of those professionals is Laura Catania of Attwells Solicitors. She was quoted by Mortgage Introducer as saying:
“Starting the process early gives you the best chance of completing before the festive period and provides some flexibility if unexpected delays arise.”
Among the primary reasons why conveyancing now takes longer are title issues that need to be resolved and search backlogs at local councils. The annoyance of buyers is shared by solicitors, with 42% saying that slow conveyancing processes irritate them.
Catania also suggested some steps sellers and buyers can take to speed things up. These include preparing all of the necessary documents prior to the start of the transaction, and replying to any queries straight away.
If you need solicitors in North Wales who are qualified to handle residential conveyancing, call Bennett Smith Solicitors now.
