Conveyancing has become a national headache. Google the term ‘slow conveyancing’ and you’ll read countless articles on who is to blame.
In response, and only recently, property experts demanded the government introduce uniform digitisation across the home moving sector to speed up the conveyancing process. But unfortunately, it looks unlikely action will be taken any time soon.
If you’re looking to buy a property and you are concerned about conveyancing delays, there are some ways buyers can speed up the process. Here’s how:
Prep relatives: Make sure all the ID and documents are in place
If you’re being gifted a deposit, make sure the individual gifting you the money is aware they will need to supply ID, info on the source of the funds (for example, through a bank statement or certificate) and a gift letter.
Buyers don’t often realise they need to provide these items but, without them, it can cause long delays to the conveyancing process. This is because your solicitors will need to perform anti-money laundering checks (AML) as a legal requirement, to ensure the funds you’re being gifted aren’t proceeds of crime.
If you provide everything above you should expect your conveyancers to complete anti-money laundering checks within a day or two, but it could take a week or more if you don’t supply all the information above.
Before relatives gift you with the deposit money, make sure they understand what else they will need to provide you with. They should also ensure the identification is within date (more on this to follow).
This will also help with conversations with your lender too, who will want to see proof of funds before giving you a mortgage agreement in principle.
Have a mortgage in principle in place before house-hunting
Some estate agents won’t show you properties without one. It’s not a legal requirement at this stage of the process, but every buyer should be realistic about what they can afford.
If you put in an offer for a property, a mortgage offer in principle can give the seller and their solicitors confidence from the start that you’re serious about buying the property.
Your solicitors won’t have to wait for your mortgage offer in principle before starting the conveyancing process too.
Make sure you have up-to-date photo and address ID
Before house hunting double check when your driving licence and/or passport are up for renewal and, if any time soon, apply for new documents.
Finding your perfect property could take you longer than you expect – as can the conveyancing process – so make sure you have plenty of time left on your IDs before they expire.
If you’ve recently moved, ask a utility provider or bank to send your bills via post, so you can provide a valid proof of address.
Without up-to-date ID documents, you will significantly delay the AML checks and conveyancing process.
Your offer could be rejected if you have to wait weeks for a new passport too, since some sellers won’t want to wait that long.
Check the T&Cs on making withdrawals from your bank or savings accounts
If your deposit funds are in an ISA or other bank account you will need to check what the process is and how long it will take to remove funds from the account, so you can plan ahead of the exchange.
Banks require certain steps to be followed to withdraw money for a house purchase. Once you’ve applied to your bank to withdraw your funds, they will contact your conveyancer with a ‘conveyancer declaration’ to sign.
Make sure you’re copied in on this correspondence, and as it goes across, separately inform the solicitors if you wish to use all or part of the funds.
Depending on the type of bank account, it could take several days for it to be withdrawn and go to your solicitor. Knowing this process will give you a good idea of where you are, and when it’s necessary to chase your conveyancers.
Timelines – be transparent about your own and understand those in the chain
Be clear on timings with your solicitors. If you need to move out by a certain time – due to a tenancy agreement ending, for example – let them know from the outset. They may be able to prioritise you.
Take it upon yourself to arrange catch ups with your solicitor to understand progress. Inform them of anything you’re concerned about that’s likely to delay timings so the solicitor can look out for issues and tackle them from the start.
Do bear in mind that if you’re purchasing a leasehold property, conveyancing solicitors will have to review and complete extra paperwork, meaning it will be a longer process.
Stay in contact with your estate agent. They will be liaising with you, the seller, and both of your legal representatives, so they have a clearer overview of the chain, and if the seller is facing any delays.
You can ask the agent to chase the seller’s solicitors if they’re being slow, and if there are delays with your own solicitors so you can give them a push.
Work with a trusted conveyancer
A house purchase can be the most expensive purchase you’ll make in your life, and it’s tempting to cut costs where you can. However, sadly there are many unscrupulous firms who take on far too many cases to make their bottom line, providing a poor and prolonged service.
A cheaper deal could cost you less in cash but more in stress. It’s important to weigh this up before rushing to the first conveyancer you hear about.
Do your due diligence. Check review and comparison websites, and chat to friends and family who have bought in your area. And even if there are still conveyancing delays, you’ll have more confidence that your legal representatives are doing everything they can to resolve them (with a little help from you to speed things up).
Claire Brook is a residential conveyancing solicitor at SA Law
