Efforts to streamline residential conveyancing

The Conveyancing Association recently convened with lenders with the aim of looking at how it could expedite the property transaction process.

Those present discussed a number of the issues currently most pertinent to the residential conveyancing process. These included the impact of regulation, the difficulties of delays, and how to bring consistency and uniformity to the process.

“The event was extremely successful and we are making great progress. This is clearly something lenders are interested in engaging with us on and we are really looking forward to our continued work together as well as reaching out to other lenders who would like to be involved,” commented Eddie Goldsmith, chair of the Conveyancing Association.

A number of lenders joined the residential conveyancers for the meeting, with the largest names including TSB, Santander, Lloyds and Nationwide. In fact, the lenders assembled are responsible for more than half of the house purchases made in the UK each year.

Those present agreed that it was in the interests of all parties – residential conveyancers, lenders, buyers and sellers – if the group met four times a year to ensure a better process.

A spokesperson with Nationwide said that “anything that can be done to make it work better is welcome”.

 

If you would like advice and representation related to a property transaction, whether you are buying or selling, contact the residential conveyancing solicitors at Healys today or, click here for more information.