24/10/2017

Making house purchase simpler, faster and more stress-free (UK)

Ways of providing better information and guidance for house buyers and sellers, building trust and confidence in the market, applying digital technology more effectively and generally making the house buying/selling process faster, cheaper and less stressful for everyone involved are being sought in a call for evidence launched by Communities Secretary, Sajid Javid.

Part of the processes outlined in the recent Housing White Paper to ‘fix the broken housing market’, ‘Improving the home buying and selling process: call for evidence’ aims to tackle key issues identified in ‘Buying and selling homes: consumer experience study’ as

  • 69% of sellers and 62% of buyers who experienced delay reported stress and worry as a result
  • 46% of sellers had concerns about a buyer changing their mind after making an offer
  • 24% of sellers would use a different estate agent if they were to go through the process again
  • 32% of sellers and 28% of buyers were dissatisfied with the other party’s solicitor

Research carried out by Which? (January 2016) summed up the process as “being more stressful than having children”.

25 questions are listed on issues under ten headings ranging from estate agents and conveyancing to buying new build and leasehold properties. Specific questions include

  • should the industry do more to make customers aware of how to complain?
  • would there be an advantage in encouraging buyers and sellers to use the same conveyancing provider?
  • what should the government do to accelerate the development of econveyancing?
  • how should we best tackle gazumping?
  • what more can be done to help buyers of new-build homes quickly secure a mortgage offer?
  • what else should the government be doing to help improve the home buying and selling process, and reduce the cost for consumers?

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