Almost one in four home purchases or sales fall through due to poor communication between lawyers, lenders and estate agents, according to a new survey.
And just over half of people who either bought or sold a house since 2008 said the transaction took longer than expected, with a similar number reporting unforeseen delays.
Better communication between the solicitor or conveyancer, lender and estate agent would have "significantly speeded up" the buying and selling process, respondents said.
The Conveyancing Association (CA) published the research to highlight its new protocol, which designed to speed up the transaction process.
It has now launched the CA Protocol in a bid to tackle poor communication during the house buying process. It said this could shorten house transactions by five working days.
The protocol, developed with Connells, Move with Us, Countrywide and LSL Property Services, collates guidance from the Law Society, the Council for Licensed Conveyancers, the Legal Ombudsman and the Council of Mortgage Lenders, along with case law.
It aims to give licensed conveyancers and solicitors a single point of reference for best practice for the first time. This should ultimately help conveyancers and solicitors give customers a better service.
Sheila Kumar, chief executive of the Council of Licensed Conveyancers, said: "I congratulate the CA on developing this useful protocol aimed at improving service to clients.
"Acting in the client’s best interest will always come before speed but any step to improve the conveyancing process is a welcome one. I hope that we can see more cross-sector action like this to improve the ways we work and deliver better outcomes for consumers.”
Eddie Goldsmith, chairman of the Conveyancing Association, said: "Anyone who has purchased or sold a house knows what a stressful time this can be.
"Our mission is to look for ways to make these transactions quicker and easier, ensuring our members’ customers are provided with the best service possible. The CA’s protocol aims to do just that.
"As the industry’s first ever single point of reference for solicitors and conveyancers alike, we hope the protocol will ensure all parties involved in the purchase or sale of a house are singing from the same hymn sheet, facilitating communication and cutting down the time currently being lost during this process.
“We encourage members and non-members alike to refer to the protocol in an industry-wide effort to streamline the conveyancing process.”
Comments