Nearly half (49%) of those who have bought a home in the UK over the last 12 months say that they perceived liaising with conveyancers to be the most stressful part of the transaction process, research from Smoove reveals.
The findings are not purely down to homebuyers experience levels as the same proportion of both first-time buyers and second steppers agreed (both 49%).
Instead, the research showed the stress was down to a perceived lack of transparency – less than a third of homebuyers felt fully informed throughout the process and nearly a quarter struggled to understand the process at all.
However, the data also showed that conveyancers are under considerable pressure as demands on their time increase – in 2024, the volume of instructions increased by 32% compared to the previous year.
COMPLEX PROCESS
Coupled with the complexity and fragmentation of the process which can be difficult for consumers to understand, these factors are increasing the volume of case queries and limiting the time they can spend on communication with clients and resulting in this perceived issue.
Encouragingly, homebuyers are keen for innovative technologies to address this challenge. The research showed that more than two thirds (69%) of respondents said they would be more likely to choose a conveyancer if they used a 100% digital and paperless service, while 45% said they want AI to help with ID and fraud checks, and 43% said they want it to provide automated case updates. However, it is clear that direct relationships remain critical too.
While digital service was deemed important, the data shows that almost all of survey respondents (89%) also want direct contact by phone or email from their solicitor during the homebuying process.
SIGNIFICANT PRESSURE
Matt Joy, Chief Growth Officer at Smoove, says: “Conveyancers are experiencing significant pressure due to increased demands on their time, which reduces their availability for client communication.
“Additionally, the process’s complexity and fragmentation can be challenging for consumers to grasp, creating a perceived communication gap.
“A combination of human intervention, industry expertise and digital tools can help in addressing the communication pain points for all stakeholders, providing clarity without requiring disproportionate time from conveyancers.
“Getting this right will address both the cost and time concerns simultaneously, while freeing up conveyancers to dedicate their time to the parts of cases that require their expertise.
“Not only is this vital in helping them manage capacity, but it will also enable them to focus on complicated transactions where they can really make a difference, bringing back some essential job satisfaction to the profession.”
