My last blog looked at whether the Conveyancing process needs to change? 

In summary, I think it would be difficult to radically change the overall Conveyancing system but there are certainly areas which could be targeted, particularly around leasehold properties & Management Companies.

One of the main frustrations involved with working in Conveyancing are leasehold properties. Firstly, let make it clear I have nothing against leasehold properties per se, I live in one myself & think there a lot of positives. However, a large percentage of leasehold properties will involve a Management Company. Again, I have nothing against Management Companies per se. My Management Company does an excellent job in maintaining & running my development.

However, we are all aware of the general stereotypes of Management Companies; expensive, slow, difficult to contact. Sadly, this also mirrors the Conveyancing interaction as Management Companies charge a range of fees for providing information & conducting basic administration. The issue with this is;

a) There is no consistency for the client – some client could pay less than £200.00 for a Management Pack, should they wish to sell their apartment, whilst others could pay upwards of £400.00

b) There is no consistency with the documentation needed – when buying a new build property, it is usual to have to serve notices on the relevant parties such as Freeholders, Management Companies & Managing Agents. Again, the fees vary considerably and annoyingly, so does the required documentation. Some provide a form but some don’t.

All of the above adds time & stress for all parties concerned; the buyers Solicitor has to ask the vendors Solicitor for the information. The vendor’s Solicitor in turn will have to request the relevant information &/or documentation.

So my suggestions are simple, standardise & regularise the fees & documentation paid to third parties involved with leasehold properties. It is in the interest of the consumer, to makes fees fairer & provision of documentation more efficient, which will undoubtedly benefit all!

To arrange a discussion about Conveyancing or the home buying process, please get in touch with Rick Barrow on 01625 523988 or mail@jbgass.com