Timescale & Chains
Following Covid, and with the lack of Conveyancers available, there is a huge strain on the Industry. The process is now apparently averaging around 5 months.
Mortgages, Searches, Valuations, Surveys and Enquiries are all taking longer to process.
See below press:
https://www.todaysconveyancer.co.uk/main-news/average-time-to-sell-climbs-around-10-months/
Current timescales are as below:
https://www.ownyourhome.gov.uk/buying-a-home-how-long-will-it-take/
The speed of a matter is dependent upon the circumstances involved and the number of parties in the chain. Completion can occur quicker or can take longer depending on the same.
The Conveyancing process takes longer if you are part of a chain of buyers and sellers, or the property is Leasehold. The longer the chain the more parties to organise.
Your Conveyancer will aim to complete your matter as soon as possible but they are dependent on the co-operation and assistance of all parties.
Completion dates agreed in advance between sellers and buyers cannot be guaranteed and the legal process may NOT synchronise with the same.
Chains
There can be several people involved in a chain of sales and purchases and this can delay matters.
ConveyancersI are NOT always aware of how many parties are in the chain and you should discuss the chain length with the Estate Agents And update your Conveyancer.
When your Conveyancer prepares your file to exchange, and or complete, they are reliant on the assistance and co-operation of all parties. The ability to exchange and complete is dependent upon others being ready when you are.
