Why Does Conveyancing Take So Long?

This is typically a straightforward purchase. It is solely regarding 1 property and doesn’t rely on anyone else in the process.

Unfortunately, this doesn't come without potential delays. Failing to conduct key duties such as getting a mortgage arranged quickly or conducting surveys on the property can result in delays. The process with no chain can be as quick as 4 weeks through to 16 weeks.

Depending on how big the property chain is will determine how long the delays can be. The biggest hold-up when buying a property in a chain is that all transactions need to be completed simultaneously.

If there is one aspect within a specific property that is not complete it can delay everyone. An example is if a survey has revealed an issue that needs to be investigated further. If the chain is small with no complications it can take as little as 4 weeks to complete the conveyancing process. In some of the more complicated cases with lots of properties involved it can take as long as 6 months.

This is one of the best scenarios for buyers and sellers. First-time buyers will have no property to sell, which means it's all on the property they are buying. There is no upward chain, therefore the seller isn’t reliant upon another property to complete this transaction.

The biggest potential delay is with the buyer's mortgage. When looking to buy a property, getting a mortgage agreement in principle (AIP) before the offer stage is highly recommended. It is required before you apply for a mortgage so having here is advantageous.

Some first-time buyers will get financial help from family members. It’s important that conveyancers are told about this as early as possible as they will need to fill in a gifted deposit document. It can cause delays to the process the later they are told.

Once an offer has been accepted the buyer's mortgage application will need to be submitted. This isn’t always a guarantee it will go through. This is because the application for a mortgage has more thorough checks than the AIP. For first-time buyers with no chain, it can take anywhere from 4 to 16 weeks to complete.

For first-time buyers, this is very frustrating as they are at the start of the chain and reliant upon others in the process. This would come from the sellers as they would be depending on the purchase of another property.

Issues around surveys and searches are new to them too. If searches find serious issues, conveyancers will likely negotiate the sale too which adds time to the process.

Choosing an experienced and reliable conveyancer can help ease any fears you may have. It will also help the process be as seamless as possible.

This is the favoured scenario for buyers and sellers. As it's not reliant upon any other property being sold, for buyers it means they don’t have to worry about applying for a mortgage. Which is something that sellers will be relieved about too. The conveyancing process instead will involve only legal checks and the transfer of titles.

There are several reasons why someone might only accept a cash only offer. It could be as simple as the seller wants a quick sale to settle an estate following probate or they are going through a divorce. There could also be more complex reasons such as structural damage that has left the property unmortgageable.

For issues such as structural failure or japanese knotweed comprehensive surveys of the property will be required. Surrounding properties will also need to be surveyed which can delay the process. Conveyancing can take anywhere between 4 and 8 weeks.

Although you are buying a property with cash, you can still be part of a chain. This happens if the seller is looking to buy another property but needs the funds you are providing to purchase. This could be the case if they inherited the property. The solicitor will need to conduct a money laundering check which can cause potential delays.

The process of buying a property with cash in a chain will take a similar timeline to that of one with a mortgage. This would be between 4 - 26 weeks.

Read more on How to Buy a House with Cash

The process of buying a leasehold property differs from that of a freehold, often leading to a longer timeline. This is due to the involvement of an additional party in the transaction. In a freehold property sale, the seller and the freeholder are the same individual. However, in a leasehold purchase, 3 parties are involved. The buyer, the leaseholder (seller), and the freeholder (or their managing agent).

As the freeholder owns the land, there will be issues around immediate access to documentation. This includes the title deed, leasehold management pack or getting a lease extension valuation. This can all extend the average conveyancing timeline of 8-15 weeks.

Due to new build houses and flats being in development, they have a different conveyancing process to existing properties. It’s worth noting that not all conveyancers can work with new builds, so it is worth getting this checked beforehand.

The conveyancer will be responsible for conducting additional conveyancing searches, as new builds require gathering fresh information, such as boundary definitions and planning permissions. They will also have to arrange a NHBC inspection. All of this can add delays to the timeline. As there is no chain in buying a new build, this is relatively straightforward. With no delays, it can take just 28 days to get to completion day.

Read more on New Build Conveyancing Solicitors