Few can argue that there are elements of the conveyancing process that need improvement, and modernisation could be a huge boost to the UK housing market.
The solutions to the current issues seen across the home-buying and selling process in the UK are out there, many experts claim, but the industry needs to work together to implement them and make them successful.
Even before the pandemic, many complained that conveyancing – which involves the legal transfer of a property’s title from one owner to another – could be slow, arduous and fraught with problems. Most people who have bought a property in the UK have experienced holdups as part of the process.
Now a group of industry experts have come up with a new raft of comments and suggestions on how things could be improved, particularly by making use of new technologies like blockchain.
Delays in transactions put people off
According to Lennie Shaw, founder of Shaw Financial Services, one major hurdle can be mortgage offers expiring when things take too long – by which point mortgage rates may have increased.
He says:…
