The conveyancing process is already slow and frustrating, but it's even worse in South London. A recent study by Dutton Gregory found that the average time it takes to complete a conveyancing transaction in South London is 10 weeks. This is significantly longer than the national average of 8 weeks. In my experience a sale takes 100 days to get from under offer to exchange, which is actually 14 weeks!
The long conveyancing process is putting South London property owners at risk. If you're selling your home, you could be waiting months to get the sale through. This could mean that you sit where you are, in uncertainty (or in a temporary property) for longer, or even lose the sale altogether! If you're buying a home in South London, you could be facing the same problems. You could be waiting months to move into your new home, and you could be at risk of financial burden (and others if you have given notice at your rental place) if the sale falls through.
The slow conveyancing process is a major problem for South London property owners. It's time for the government to take action to speed up the process and protect property owners. What can you do to protect yourself? There are a few things you can do to protect yourself from the slow conveyancing process: Choose a reputable conveyancing solicitor. A good solicitor will be able to keep you informed of the progress of the sale and help to speed up the process. Is the delay on your side or the buyer's side? Are they raising silly enquiries? And always be mindful that you have the right to pull our of the sale if the conveyancing process is taking too long.