There is no doubt that property conveyancing has changed a great deal. In the last decade alone, buyers and sellers have been able to navigate the conveyancing process with the help of a wide range of tools. It was not too long ago that the process was limited to a traditional model, which worked for many years but had several limitations, including accessibility.
These changes were discussed in detail at the recent UK Conveyancing Association Annual Conference. This event focused on the changes facing the property conveyancing sector, while also highlighting the need for greater adaption in the coming years to stay ahead in the competitive property sector. The large number of conveyancers in the UK at present may be reduced in the next decade. According to Paul Smee, non-executive chair of the UK Conveyancing Association, these numbers may drop from approximately 4000 firms at present to 1000 in the next ten years.
What does this mean for buyers and sellers, and how will the changes affect the overall property market? Let’s take a look.
The Changing Face of Property Conveyancing
Traditional property conveyancing relied on in-person consultations, with both buyers and sellers needing to devote a great deal of time and effort throughout the process. Over the last decade and a half, we have seen more changes than we have in over a hundred years. As technology and improved processes paved the way for new, better ways to navigate property transactions, it became clear that a more effective system was needed. This is where outsourced or online conveyancing came into play.
Today, buyers and sellers have more tools available than ever before. Thanks to the growth of the digital space, the sale and purchase process has become far more streamlined. Rather than dealing with a single conveyancer, buyers and sellers have access to experienced teams. Online tools take away the burden placed on conveyancers as well as estate agents, allowing them to focus on helping people find or sell property in a way that reduces wasted time and effort. Conveyancers are free to lead people through the process without the challenges that typically arise from limited systems.
As a leading online conveyancing firm in the UK, Home Legal Direct is committed to making purchases and sales as simple as possible. We offer a service that not only includes conveyancing but also mortgages, insurance, equity release, along with homebuyer, property evaluation, and building surveys. If you are buying or selling, you will have the advantage of expert assistance throughout the entire process, with the added benefit of an online system that reduces wasted time.
While it is hard to say what the coming years may hold for the property market and conveyancing industry, what we do know is that online property conveyancing in the UK offers an innovative solution that will continue to simplify property transactions.