Homebuyers increasingly expect same-day conveyancing updates, according to research from Lyons Bowe Solicitors.
The firm found Britain’s homebuyers have little tolerance for poor communication during the conveyancing process, with buyers wanting prompt responses and swift notification of any issues that could impact their purchase.
The survey of homebuyers who have purchased a property within the last two years shows that communication expectations extend well beyond the start of the transaction.
While 68% of buyers expect a conveyancer to respond to an initial enquiry within 24 hours, buyers continue to demand regular contact and updates throughout the entire homebuying process.
Once instructed, 63% of buyers expect confirmation that their file has been opened and work has commenced within 24 hours, while 61% expect confirmation that their paperwork and identification documents have been received within the same timeframe.
When contacting their conveyancer with a question, 75% of buyers expect a response within 24 hours, including 30% who expect a reply on the same working day. Only 6% believe waiting longer than two working days is acceptable.
While searches are being carried out, more than half of buyers (52%) expect weekly updates from their conveyancer, regardless of whether there has been significant progress.
Buyers also expect to be kept informed as soon as meaningful progress is made. When important information is received from the seller’s solicitor, 86% expect an update within 24 hours, including 38% who expect to be informed on the same working day.
Communication becomes even more important when problems arise. Four in five buyers (81%) expect to be informed of any issue that could delay their purchase either immediately or on the same working day, with 32% expecting to be notified straight away.
As transactions move towards exchange, buyers expect communication to become more frequent. More than two thirds (68%) expect updates at least every two to three days, including 30% who would like daily updates as exchange approaches.
The importance of communication peaks on completion day itself. More than half of buyers (56%) expect their conveyancer to notify them immediately once funds have been transferred and completion has taken place, while a further 22% expect confirmation within an hour.
Lyons Bowe Solicitors managing director Paul Lyons said: “One of the clearest messages from the research is that buyers want to feel informed. They understand that conveyancing is a detailed legal process involving multiple parties, but they don’t want long periods of silence while that process takes place.
“Buying a home is often one of the most significant financial commitments a person will ever make. When people don’t know what’s happening, uncertainty can quickly become frustration, even when a transaction is progressing as expected.”
Last week analysis of instruction volumes received by Conveybuddy across the first 10 working days of April, May and June showed purchase/transactional instructions have continued to increase throughout the quarter, rising by 37%.
