Properties taking almost a third longer to complete

Posted: 4/2/2021

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Recent research by Movewise has suggested that properties in the UK are taking almost a third longer to complete at the moment. This is the period between a property being sale agreed and sold. During this time buyers arrange their mortgage and survey and the respective solicitors start the "conveyancing" process. Surveyors and lenders are now being extremely particular and it is now the norm that buyers will be expected to obtain additional reports on properties such as damp checks. Whilst this can add time to the process, the big delay is with conveyancing, an already creepingly slow process. There seem to be long delays in obtaining property certificates from relevant authorities, caused by a peak in property sales and less civil servants working in offices to deal with the requests. Our experience is that at least three months has become the norm and some sales are taking longer than that!

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