Buying a house is not usually a quick process. In fact, Home Sale Pack analysed the average time it takes to sell a home in 10 of the world’s busiest housing markets earlier this year. According to its research, the average timeline in the UK is 183 days or six months. Stephen Ward, Director of Strategy and External Relations at the Council for Licensed Conveyancers, explains
So, what is being done to help streamline the lengthy homebuying process and make it more efficient?
You may have heard of digital ID. It is two years since the Government introduced digital ID as an accepted form of identify. HM Land Registry’s rules have also changed in the past couple of years and it now has the capability to allow transfers of ownership of property, leases, mortgages and other property dealings to be signed electronically. Witnesses are also able to now sign electronically as well, although they do need to be in the same room as the person they are witnessing. With effect from 15 July this year, HM Land Registry removed the requirement that all conveyancers acting in a transaction agree to the use of electronic signatures as this was slowing adoption of new tools and processes that deliver benefits to clients and conveyancers.
This coordination across the industry has allowed significant inroads to be made in streamlining what was once a fairly disjointed process. And of course, streamlining leads to greater time efficiencies, speeding up the process for both sellers and buyers.
Digitisation In Practice
Until recently, proving your identity involved physically presenting yourself in front of your conveyancer with documents like your passport, bank statements and utility bills. While some people still prefer this method, most firms will now use digital services to verify identities. These online systems cross-check your personal details against records from mobile phone providers, credit agencies, HM Passport Office or the DVLA. This digital process is not only more convenient but also more secure than handling physical documents. It also provides greater efficiency as digital identity checks can be completed within minutes, whereas manual document processing can take days or weeks. Additionally, these checks can be performed remotely, providing greater flexibility in selecting a conveyancer.
Digital identity tools utilise various technologies, including:
- Biometric verification: Using techniques such as facial recognition or fingerprint scanning
- Liveness tests: Technology to confirm the genuine presence of a user
- Cryptographic checks: Ensuring that only the sender and recipient can view the messages, enhancing security. This minimises the chance of human error and allows information to be encrypted and stored digitally, reducing the risks associated with physical document storage and management.
Additionally, many firms now provide secure portals for document uploads and reviews, offering significantly more security than email. These portals aid in verifying identities and the source of funds from buyers, thereby expediting mortgage offers as lenders can access the necessary information directly.
Portals also enable clients to track the progress of their property transactions, indicating the stages towards exchange and completion. This feature reduces the time conveyancers spend updating clients, allowing them to focus on efficiently completing transactions.
Choosing A Conveyancer
While digital identity checks are quickly becoming the norm in legal services, just as in other sectors such as banking, and the vast majority of CLC-regulated conveyancers use digital ID tools, manual ID verification still has a place in certain circumstances, for example where a client is unable or unwilling to use digital tools. Conveyancers should be comfortable using both methods.
You can check for details of the onboarding process on a conveyancer’s website or ask them direct. The most important consideration when choosing a conveyancer, however, remains that they are regulated to ensure you are protected and can seek redress should anything go wrong. Practices regulated by the CLC have our badge displayed prominently on their websites, which, when clicked on, will take people to our site and confirm they are genuinely regulated by us. You can find a list of CLC-regulated conveyancers as well as guides to buying and selling a property on our website: clc-uk.org
First Time Buyer is an exciting bi-monthly glossy which takes a stylish and comprehensive look at all the options available, setting them out in an entertaining and informative way, and helping potential customers navigate their way through what is often a daunting and complex process. We dispel the myths, reinforce the facts and arm the reader with the tools necessary to make their homeownership dreams a reality.