Government aim to ‘inject innovation’ into the home-buying process

The Department for Communities and Local Government (DCLG) are seeking feedback on the current home buying process in their recently launched Call for Evidence.

Encouraging those with an interest to put their views forward and share their thoughts on the sector, the government aims to utilise the responses to ‘inject innovation into the process’.

One of the main overarching points raised relates to the length of the process, highlighting the difficulty in navigation, and the high amount of steps which are required before completion can occur. Similarly, this can also be caused by the chain aspect of the process for many consumers, who depend upon the alignment of several factors before their transaction can be finalised. When asked about how the buying and selling process could be improved, around a third of respondents stated that they would have liked a faster service from their conveyancer.

The consultation compares the process in England and Wales to those in other countries, having looked at the experiences of over 2,000 consumers who have recently been on one side of a transaction. Government research looked at the number of failed transactions as well as the general operation of the process, setting out its wider aim to improve the information provided to parties and commit to a sale at an earlier stage.

Where conveyancing is concerned, a key point raised looked at transparency, and a need to improve the ability of consumers to choose a conveyancer based on customer satisfaction.

Digital technology was highlighted as an area of interest, particularly in relation to enhancing the consumer experience in certain aspects of the process. However, the consultation also noted that this level of innovation has not been reflected to the same extent within conveyancing, which it states should be made more consumer friendly.

Whilst it acknowledges the developments already being pursued by some firms, it aims to create a ‘firm foundation for a digital revolution in conveyancing’, exploring ways to improve the accessibility of property data and innovative ways for it to be used.