Pennycook:
Seven in 10 homeowners were satisfied with their conveyancer but levels of service have deteriorated in the last five years, according to new research.
The survey also exposed how many consumers do not understand what conveyancing involves.
Separately, the government has indicated its desire to see the conveyancing process speeded up.
For its eighth annual survey, the HomeOwners Alliance polled 2,000 people – 1,326 of whom were homeowners – and found that 71% were satisfied with the service provided by their conveyancer, with 74% of those who bought a home within the last five years saying they would use the same lawyer again.
At the same time, 78% of homeowners who bought within the past five years also felt the experience could be improved.
A faster experience was “the main wish”, researchers said, with 43% complaining about delays in the purchase process. Those who bought more than five years ago were nearly half as likely to raise this as more recent purchasers.
The other main improvements suggested were more frequent communication, clearer explanations of the legal process and of fees, app notifications and longer opening hours.
Strikingly, those who bought more than five years ago were less likely to highlight the need for each of these – overall, 28% of those consumers said nothing could have improved the experience, compared to only 19% of more recent purchasers.
Some 77% of homeowners said they had heard of the term ‘conveyancing’ but only 53% had “some understanding” of what it was – even though they would have used a conveyancer in the past.
Nearly half were unaware that the conveyancer acts on behalf of both the buyer and the mortgage lender, while 38% thought the conveyancer checked that the structure of the property was sound.
Recommendations and referrals were main ways people found a conveyancing solicitor.
Of those who bought a home within the past five years, 26% found their conveyancer via their mortgage broker, 24% from family recommendation and 22% by estate agent recommendation.
One in five homeowners chose a conveyancer they had used before and a similar proportion used a local firm on the high street.
Again, things have changed in the last five years: broker, agent and developer referrals, along with online searches and comparison websites, were more common methods of finding a conveyancer.
Meanwhile, the housing minister said last week that “the government recognises that the current home buying and selling process in England is slow, costly and stressful, and that conveyancing can contribute to this”.
Matthew Pennycook went on: “An improved, modernised process could benefit consumers, industry, the housing market and the wider economy.”
Responding to a written question by newly elected Labour MP Luke Charters on the merits of speeding up the conveyancing process, Mr Pennycook also highlighted HM Land Registry’s work to digitise local authority search data.
“Eventually this will cover each local authority and provide a quick and accurate response, potentially taking weeks off transaction times.
“We continue to consider how to drive improvements most effectively across home buying and selling for both consumers and the sector.”
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