A quarter of all home buyers are willing to pay extra to have a faster conveyancing experience, with figures from a national survey suggesting that conveyancing is considered one of the most stressful experience about buying a property.
The poll, which was conducted by Veyo, found that the average waiting time for conveyancing was over 11 weeks, with one in four households willing to pay more in order to have the process sped up.
Of the the 2000 plus surveyed, 29% of those waiting felt out of touch during the conveyancing process, with over a third admitting that they had a very limited knowledge of the process.
78% of those buying a home used a solicitor throughout the conveyancing process, with 11% using a conveyancer, and the rest opting to go online or do their own. Worryingly however, the survey found that 42% of those who had used a solicitor were unwilling to use the same one if the house was to be sold due to the length of the process.
With the entire conveyancing process taking just under 12 weeks, the vast majority of those surveyed stated that they would rather a quick, efficient service than lower stamp duty or costs. 65% of respondents were either willing or undecided as to whether they would pay more for a faster service.
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