Buying a home involves more people than most buyers expect. Once an offer is accepted, the seller, both sets of lawyers, the mortgage lender and the local council all have a part to play, each on their own timetable.
That is why conveyancing delays are so common, even when nothing has gone wrong. Many of them are predictable, though, and a little preparation at the start of a purchase can do a great deal to reduce them.
Janet Jones, Head of Residential Property at the Jackson Lees Group, explains where buyers most often lose time, why those delays happen, and what you can do to keep your purchase moving.
What are the biggest conveyancing delays when buying a house?
The biggest conveyancing delays when buying a house in England and Wales usually come from six places.
These are:
- Identity and source of funds checks.
- The mortgage offer.
- Property searches.
- Questions about the seller's paperwork.
- Leasehold information from the Landlord or Management Company
- The property chain.
According to the government's reform roadmap, a purchase now takes around 120 days on average from offer to completion, and around one in three transactions falls through.
Some of these delays are outside your control, because nobody can make a council return a search any faster. What you can do is make sure your own documents, funds and mortgage are ready before anyone is left waiting on you.
Key takeaways
- The average purchase takes around 120 days from accepted offer to completion.
- Around one in three property transactions falls through before completion.
- Nothing is legally binding until contracts are exchanged.
- Legal work cannot start until your identity has been verified.
- Land Registry registration after completion does not delay your move.
Why do ID and source of funds checks cause conveyancing delays?
Identity and source of funds checks cause delays because they have to be completed before your purchase can progress.
Anti-money laundering Regulations mean your lawyer must verify who you are and, on a purchase, will need to see where the money for the deposit and purchase has come from.
The problem comes when the money has moved around, because savings spread across several accounts, an inheritance or a gift from a relative all need a clear paper trail.
It helps to have these ready before you make an offer:
- Photo ID, such as a passport or driving licence.
- Recent bank statements for the accounts funding the purchase.
- Evidence of any Lifetime ISA, inheritance or sale proceeds you are using.
- ID and bank statements from anyone giving you a gifted deposit.
If a relative is helping with the deposit, it is worth asking them for their documents early, because the checks apply to their money as well as to yours.
How can a mortgage offer delay buying a house?
A mortgage offer can delay a purchase because Your lawyer will not proceed without a secure mortgage offer in place. Whilst your lawyer acts for you, they also act for your lender.
Before issuing it, the lender checks your application, income and credit history and arranges a valuation of the property. A missing payslip, a change of job or a low valuation can each add weeks.
It helps to have an agreement in principle, a lender's early indication of how much it may lend, before you make an offer, and then to apply in full as soon as the offer is accepted.
Where a lender values the property below the agreed price, it may lend less than you expected or decline to lend at all, which can mean renegotiating with the seller or finding the difference yourself.
Why do searches and enquiries cause conveyancing delays?
Searches and enquiries cause delays because they depend on information held by other. agencies
Your solicitor orders searches from the local Authority and other bodies, including the Local Water Authority, they review the seller's paperwork and they raise enquiries about anything that is missing or unclear.
| What your lawyer is waiting for | Who holds it | Why it can take time |
|---|---|---|
| Local authority search | The local Authority | Response times vary from council to council |
| Replies to enquiries | The seller and their lawyer | The seller may need to find documents or contact third parties |
| Planning and building regulations papers | The seller or the council | Older work may have no paperwork, which needs resolving before exchange |
Our team’s view is that enquiries work best when they focus on the points that are genuinely required, because unnecessary questions add time without adding protection.
If you noticed an extension, a loft conversion or an unclear boundary at the viewing, tell your lawyer early so the right questions are raised together.
Why does buying a leasehold flat take longer?
Buying a leasehold property usually takes longer because your lawyer needs information from the landlord or managing agent as well as from the seller.
This normally comes as a landlord and/or management pack covering service charges, ground rent, buildings insurance and planned major works, accounts and any other requirements of the landlord or management company. The government's own reform roadmap recognises that landlord and managing agents can take too long to provide this information.
For that reason, the most useful step is for the seller to request the pack as soon as possible. The information is only stays relevant for six months. Our specialist team will also check how many years the lease has left to run, because a short lease affects the value of your property, lenders are also less likely to lender on a property with a short lease term.
How can buyers avoid conveyancing delays in a property chain?
Buyers can reduce conveyancing delays in a chain by finding out early how long it is and whether everyone in it has a buyer, a mortgage and a lawyer in place.
A chain is a series of linked sales and purchases that usually all complete on the same day, so the whole chain can only move as quickly as its slowest link.
You cannot control other people's transactions, but you can make sure your own part of the chain is never the one holding up the rest. Because nothing is legally binding until contracts are exchanged, it is sensible to wait until then before booking removals.
Where a chain looks fragile, early advice from our conveyancing solicitors can make a real difference.
What should you do next if your purchase has stalled?
If your purchase has stalled, the first step is to find out exactly what the transaction is waiting for and who holds it.
Most conveyancing delays come down to a single piece of outstanding information, whether that is a search, a reply to an enquiry, the mortgage offer or the leasehold pack.
Our team will be able to tell you which one it is. From there, it is usually clear whether you can help, by sending a document or chasing your broker, or whether the answer lies with someone else in the chain.
Why Conveyancing Takes Longer Than Expected: FAQs Answered
Does Land Registry registration delay completion?
No. Registering you as the new owner with HM Land Registry happens after completion, so it does not delay your move. HM Land Registry says legal ownership rights are secured from the moment it receives the application, provided the application is in order, even when updating the register takes several months.
Can I pull out of a purchase before exchange?
Yes. Until contracts are exchanged, either the buyer or the seller can withdraw without liability to the other, although money already spent on searches, surveys and legal work is usually lost. Once contracts are exchanged the purchase becomes legally binding, and a buyer who then pulls out will normally lose their deposit and may face a claim for further losses.
How can Jackson Lees help with conveyancing delays?
Delays are frustrating, particularly when you have a moving date in mind and so much depends on people you have never met. A conveyancing solicitor who keeps the transaction moving and tells you plainly what is outstanding makes that far easier to manage.
The residential property team at Jackson Lees acts for buyers across Liverpool, the Wirral and the North West on freehold, leasehold and new-build purchases. The team liaises with your lender, estate agent, mortgage broker and the seller's lawyers so that you are kept informed at every stage of the transaction. Every quote is tailored to your purchase, with no obligation and no hidden fees.
If you are buying a home, please give us a call, request a callback or make an enquiry to see how we can help.