In 2017 over 1.2m properties were bought and sold throughout the UK, taking an average of 8-12 weeks to move from offer to completion. In an ideal world a property transaction should only take 6 weeks – so why does it often take double that, and what about those people who have even longer delays?
There are many reasons a property purchase or sale could be delayed. The management pack for a leasehold property took a long time to be returned; the buyer’s mortgage application was rejected and they had to start again; other parties further up in the chain had difficulties.
However, one of the most common causes of delays come from the professionals involved taking unexpected leave. Our recent research has shown that 30% of home buyers have experienced crippling delays due to absentee property lawyers, adding an average of nearly 2 months to an already lengthy process.
There must be a simpler, more automated solution for a process that is done an average of 3,300 times a day!
Here at When You Move, we run the UK’s first proptech platform to automate the end-to-end process of conveyancing. It’s one integrated platform to progress sales and purchases, with visibility for all parties involved: estate agents, mortgage brokers, conveyancers, and home buyers and sellers. Not only does our platform help to significantly speed up the process to drive parties through to completion, but the ability to track cases in real time will help the 58% of homebuyers who deem the process stressful and opaque.
By addressing the antiquated process with an end-to-end, automated system we hope to alleviate the overly-stressful home-buying experience, which is currently damaging the UK property market. We’ve already partnered with some of the UK’s most respected legal partners specialising in residential conveyancing, including Leadenhall Law Group, Gordons Property Lawyers, and Right Choice Conveyancing.
You can see how When You Move would benefit your business by booking a demo here.