Conveyancing found to be biggest cause of property delays

A new piece of research looking at the UK property market has found that conveyancing is the single biggest cause of delays.

This research was conducted by the digital property portal Rightmove. It was intended to drill down into the property purchase process and identify the key factors that lead to hold-ups. A total of 37% of the buyers who took part in it said that issues during conveyancing were what caused their property purchase to slow down. This figure put it far ahead of all of the other issues cited in the research.

For instance, the issue that came in second place was problems during the property survey or valuation. This was named by 15% of the respondents. In third place was a delay during the property search, cited by 11%.

It may not be possible to completely eliminate conveyancing delays, but there are actions buyers can take to reduce them. One is to hire conveyancing solicitors in North Wales or England. They can speed things up by chasing up search providers, local councils and other relevant third parties. They will also take care of source-of-fund and ID checking.

Rightmove carried out this research as part of a new initiative called Championing Agents. This is designed to encourage estate agents to teach members of the public more about the property purchase and sale process.

It comes at a time when the government is looking at reforms to that process, to speed up transaction times.

If you want professional help with conveyancing in North Wales, call Bennett Smith Solicitors today.