Searches don’t figure in Conveyancing delays according to MoveWithUs
The Council of Property Search Organisations (CoPSO) has noted with great interest the findings of research by MoveWithUs that searches do not figure amongst the top 10 causes of delays in the conveyancing process. The Land Registry has repeatedly claimed that one of the core reasons for centralising the Local Land Charges Register (LLCR) is to reduce delays in conveyancing caused by searches, delays which this research seems to indicate just do not happen.
The top 10 causes for delay identified by MoveWithUs include the well known problems associated with getting hold of leasehold information, and problems with mortgages and valuations. Minutes of recent Land Registry Advisory Council meetings evidence their repeated refusal to tackle issues associated with getting leasehold information. Yet they insist on ploughing ahead with the centralisation of the Local Land Charges Register despite the huge opposition registered in response to their consultation on the subject.
The top 10 causes of delays in the conveyancing process are (source: MoveWithUs):
- Obtaining leasehold packs
- Incorrect information on Mortgage Application forms
- Not declaring gifted deposits
- Longer mortgage affordability assessments due to new regulations
- Waiting for the mortgage valuation to be completed
- Mortgage offer expiring before exchange of contracts
- Receiving responses and legal documents from others in the chain
- Transferring funds to the conveyancer
- Others in the chain not being ready to exchange or having different timescales
- Not signing required legal documents on time
James Sherwood Rogers, Chairman of CoPSO said "The Land Registry seems to be operating in its own dream world on this issue. Centralising the LLCR will speed up nothing for homebuyers; indeed in the short term it is likely to cause delays and even put the operation of the housing market at risk. It is a cause for major concern that when the Land Registry are currently operating with major backlogs in their core registration activity they want to take on a complex, expensive and unnecessary project. It must be noted that their record of implementing projects outside their core activity is dire."
He added: "CoPSO has long expressed its opposition to centralising the LLCR. The existing search market is competitive, efficient and constantly improving. Over 80% of local authority data is already held electronically and at the current rate of progress this figure will approach 100% long before the Land Registry could complete its proposed centralisation project."
CoPSO remains concerned that the reasoning behind centralisation of the LLCR is flawed and calls on the Government to think again before it is too late.
