Majority of homebuyers blame conveyancing for delays

The majority of homebuyers cite problems during conveyancing as the primary reason why their purchase was held up.

Lyons Bowe Solicitors has conducted a survey that spoke to 1,000 people who have just bought a home. The results show that 65% of them regard conveyancing and other legal procedures as the part of the process that took the longest. This adds up to one out of every six homebuyers, putting conveyancing far ahead of the other cited issues.

In second place was problems caused by a transaction chain, which was named by 27% of buyers. Delays in approving the mortgage was cited by 4%, while 3% said things were held up by issues at the property valuation stage.

This is not the first time that conveyancing has been highlighted as a cause of frustration. One action buyers can take to reduce the potential for delays is to have it handled by conveyancing solicitors in North Wales or England. Their legal expertise can help to prevent mistakes that lead to delays.

The survey indicates a general dissatisfaction with the speed of property transactions. A total of 72% of those who responded said that over 12 weeks were needed to complete the process. Another 25% stated it lasted for over 16 weeks, while for 22%, the waiting time was more than 24 weeks.

Well over half of the buyers surveyed said they had expected to complete the transaction more quickly.

If you need help with conveyancing in North Wales, give Bennett Smith Solicitors a call right away.