Conveyancers launches probe into sales progression speed
A new Conveyancing Association survey aims to discover whether its work to improve the mortgage and conveyancing process has made a difference.
The annual study takes the temperature of the industry and identifies opportunities for collaboration by asking conveyancers including estate agents’ in-house solicitors to rate lenders’ waiting and response times, consistency of reply, clarity of mortgage instruction and follow-up actions.
Last year, feedback triggered meetings with lenders to improve the process and workshops with Lloyds Banking Group and Nationwide. The association also met and worked with surveyors, valuers, valuation panels, valuation software providers, RICS, and lenders to share working practices and identify how post-offer queries might be reduced.
It now wants to know whether this has had an impact and how conveyancers view their experiences when dealing with lender processing teams.
This year’s survey is looking for information on raising post-offer queries, receiving amended offers – or those which were withdrawn – and the nature of this activity, so it can identify how much time upfront material information could save its members and lenders.
Respondents are also being asked for their input about the changes they’d like to see in the post-mortgage offer process, the ease of use of lender portals, and electronic signatures for mortgage deeds and transfers.
Full and frank
Director of delivery Beth Rudolf (pictured) says: “This year we will be collating the results in double-quick time in order to have a full and frank roundtable discussion with a number of lender representatives at our 6th July meeting in London, and again we want to ensure as many members as possible join us to take part in this.
“Providing evidence from the ‘coal face’ of conveyancing is absolutely vital and will allow us to continue to collaborate as an industry to improve the mortgage and conveyancing process for all,” adds Rudolf.
As many agents may remember, a war of words between agents and conveyancers broke out during the post-pandemic boom as sales progress timelines lengthened significantly and, in some cases, deals fell apart.
The survey is open until 20th June at: https://www.surveymonkey.co.uk/r/MLH7V27