A report from the Open Property Data Association (OPDA) reveals ‘widespread frustration’ with the homebuying process, with almost half of the 5,300 recent homebuyers surveyed saying property lawyers and conveyancers were the ‘primary culprits’.
Just over 60% of respondents said they had been asked to provide the same information or documents two or three times, 40% said communications were challenging, and 39% said ‘chasing for updates’ led to uncertainty and confusion. Almost half (44.2%) said poor communication was the most stressful part of the housebuying process.
The survey findings also show a stark contrast between expectations and reality in the time it took to exchange contracts after an offer was accepted. Almost half (45.9%) said they had experienced delays of between three and six months, with 16% having to wait longer than six months.
When asked their opinion about potential solutions to the issues they had experienced, an overwhelming 76% said they would use a digital solution if it were made available. A quarter of respondents said the government should lead the way on digital reforms, but 15% believed the responsibility to reform the housebuying process lay with conveyancers.
OPDA chair Maria Harris said of the findings:
“Consumers are telling us loud and clear: the current homebuying process doesn’t work for them. It’s fragmented, inefficient and opaque. This research makes an undeniable case for digital reform and shows that the public is more than ready for it. With the right frameworks in place, we can finally deliver a homebuying process that is secure, streamlined and fit for the 21st century.”
The full report can be seen at www.openpropdata.org.uk/report
Do you agree with the findings of the report? Should conveyancers lead the way on digital reform? Have your say in the comments, or send your comments to press@todaysconveyancer.co.uk
3 responses
OPDA is panicking in light of the multiple cyberattacks, which have taken place in recent weeks and the CMA’s rejection of material information.
So, OPDA resorts to age-old political techniques and concocts public opinion via dubious polling.
It has already tried and failed to construct a false narrative concerning digitalisation. Following this crude attempt to smear an honourable profession, it will have opened up a chasm between it and most property lawyers.
Let’s take a look at the OPDA’s report – if it is based on anything like the Law Society’s Consultation on the TA6, the questions will be very skewed to getting the answers they want, to show the story they want to tell.
No mention of Leasehold or the type of conveyancers being used (e.g. did the person use a “proper” solicitor or a conveyancing factory?) No mention of legal issues being cited as the cause of delay. Could be any number of things such as deeds of variations, complying with mortgage lenders requirements, obtaining information about potential bills that could hit the buyer. Legal issue? “blame the conveyancer” as it can’t be fixed by an indemnity policy.
What the “data” gang haven’t realised is that “data” is questionable, it is not always “reliable”, can be “faked” and let’s not even dive in to the realms of deep fake AI and cyber attacks. We as lawyers are trained to evaluate the “evidence” before us.
The “digital solution” is not going to speed anything up when legal issues need to be resolved and we are reliant on parties outside of our control.
And for Christ’s sake – 25.5% said government should take the lead? Seriously? Govt are not willing to undo the shameful building safety act that has left millions trapped in flammable, unmortgageable and unsellable homes due to making people remediate buildings to a higher standard than they were originally. They are not willing to do anything about the developers building poor quality homes. We will end up living in shanty towns soon.
There is a reason why babies don’t appear immediately upon conception, why trees do not bear fruit the minute it is planted. Patience is not a virtue shown by the OPDA. Bad mouthing conveyancers with fictional findings and a small ‘sample size’ is not a good look. “Building a Trusted Eco System” is not going to happen if OPDA continue to issue pieces like this. Who is going to trust “data” that can be hacked? Who needs an Eco System? It needs to be a separation of powers so that the client is kept safe.
Yep, all rubbish.
Despite a EA’s blaming conveyancing for decades…
Moving companies blaming conveyancing for decades….
Oooh, look, a squirrel!