Due to elections taking place throughout the country on the 1st of May, council staff from specific departments may be drafted in to assist. We do not foresee any major disruption, but this may result in slight delays in turning around our searches this week. We do apologise for any inconvenience this may cause and thank you for your patience and understanding.
The UK is once again counting down to a looming Stamp Duty deadline, evoking memories of a post-lockdown 2022 Britain.
The market has been chock-a-block with activity from first time buyers for the past few months. Recent home mover activity figures are as high as 64% for the end of 2024 and again at the start of 2025, with buyers having one eye on cheaper mortgage deals, and another on the prospect of higher buying costs on the horizon.
However, the time it takes to complete isn’t improving; average turnaround times continue to creep up and up, meaning those taking their first daunting step onto the housing ladder may fall short of the deadline, especially if part of a larger chain of purchases.
This of course means talk of the dreaded F-word: Fall-throughs. Recent research suggests numbers are rising again in the UK, with an estimated 84,079 fall-throughs during the third quarter of 2024 – the highest quarterly total seen since they peaked in Q3 2022.
The solution
Within a few weeks, SDLT thresholds will revert to pre-relief levels, and many thousands will be faced with the reality of having to amend budgets, or worse, restart from square one, with one of the potential causes being the turnaround time for searches.
OneSearch Express offers the perfect solution, combining the speed of a no-search indemnity policy – created in partnership with Lloyd & White Community Broking Ltd – with the crucial insights of a comprehensive property data report, allowing conveyancers to transact typically within just 24 hours.
And this year OneSearch Express celebrates its tenth birthday, with around 25,000 orders having been placed since 2015.
Liz Jarvis, Managing Director at OneSearch, said: “We know all too well how frustrating it is when Local Authority searches drag on. This creates a huge backlog, especially when caseloads are already bursting at the seams, and it puts immense stress on clients.
“That’s why we designed OneSearch Express – to take some of that pressure off. It gets things moving quickly and efficiently, so homebuyers can settle into their new place sooner, and solicitors can get on with their next case.
“To be here ten years later, talking about how it is still a vital asset for conveyancers, is a fantastic achievement”
What is OneSearch Express?
OneSearch Express provides cover in place of the following searches, which can often cause hold-ups in the conveyancing process:
A full Chancel Repair Liability search
A Search of the Local Land Charges Register form LLC1
A Search of CON29R and/or CON29O records
A Search of Water and Drainage records on CON29DW
A search of the Coal Authority’s records on form CON29M
An environmental risk assessment (excludes Commercial Express)
This allows conveyancers to proceed quickly, even when time is of the essence.
John Margett, Client Relationship Manager at OneSearch, added: “OneSearch Express has been so well received over the past ten years, turning many potential fall-throughs into completions from our clients.
“The key that makes Express unique is our data, something that distinguishes us from other search companies. OneSearch are the only company to possess an extensive database of real-time Local Enquiries information, which we have been collecting over the course of 30-plus years.
OneSearch Express is available for a selection of different sale types, including existing residential, commercial, new build, and more.
John continued: “We offer Express in instances where it makes the most sense, such as remortgages, where in many instances very little has changed since the first Local Search was carried out. House sales for new builds can be considered as well, as the typical exchange is required within 28 days.”
The speed of No-Search Insurance, the power of property data
OneSearch Express
For solicitors navigating complex caseloads and demanding clients, delays can be incredibly costly – not just in terms of time, but also in terms of stress and client satisfaction. With a proven track record and a commitment to innovation, OneSearch Express offers a solution designed to alleviate pressure, reduce turnaround times, and ultimately, make the entire process smoother for everyone involved.
For product cards, sample reports, or to include OneSearch Express in your next order, click below.
The first theme of National Conveyancing Week 2024 focuses on the exciting and untapped opportunity of material and up-front information to reduce transaction delays and drive efficiency in conveyancing.
There is no doubt that change is needed. Depending on who you speak to, transactions are currently taking place in the region of 20-22 weeks on average, and this is only increasing. In this article, we will ask whether the current transaction times are a matter of embarrassment and what is holding us back from leveraging material and upfront information in conveyancing.
A matter of embarrassment?
Those within the UK’s property sector are acutely aware of the protracted transaction times in 2024. The truth is that conveyancers are working harder than ever to achieve completion as early as possible. One recent opinion from within the industry has ruffled a few feathers. Ruth Beeton, co-founder of Home Sale Pack, is quoted as having stated:
“The UK boasts one of the strongest and most desirable property markets on the global stage, but despite our obsession with bricks and mortar, our protracted property transaction timeline is quite frankly embarrassing”.
This is an understandable point of view, but should we really be embarrassed?
Robin Wells, Head of Sales Operations for OneSearch, takes the view that transaction times are frustrating rather than embarrassing:
“Yes, it is frustrating. In 2011, 12 weeks was kind of the expected time for a standard residential conveyance to go through from notification to completion. I think we’re now looking at 20, 22 weeks”.
Elizabeth Jarvis, Managing Director of OneSearch, believes that there are some valid reasons for the length of completion times which are often overlooked:
“I think that it’s the fact that it’s [transaction times] increasing, which is uncomfortable to be in an industry where despite everybody’s best efforts, we can’t seem to get it together to get that back down to where it was a number of years ago. I know that there are some very valid reasons for it that there’s a lot more diligence, and things have crept into the process”.
This raises an important point; the increase in property transaction times, in part, is due to the greater lengths that conveyancers now go to protecting homebuyers and sellers and, ultimately, the reputation of the sector as a whole (i.e. due diligence checks, AML and KYC).
What will enable the proper adoption of upfront information?
One of the frustrations with the state of transaction times is that the promise of technology has not yet led to a wholesale improvement in the experience of property buyers and sellers. Elizabeth Jarvis believes that where upfront information has not taken hold in the past, there are now strong indications that technology will be a key enabler:
“I think now, from what I can see, is chinks of light where there is some better communication, and I think there’s a lot more general interest from the conveyancing sector in technology and re-looking at that technology which obviously is going to work a lot better now than when it was first conceived. I think, broadly speaking, we would all agree that the whole concept of having data upfront is a good one. There were reasons why it didn’t quite work the way it was hoped. But I think that it’s seen a return to that is happening”.
Elizabeth also takes the view that the key to making upfront information work and to bringing down transaction times is the use of technology to connect all stakeholders in the process:
“It’s no good to have upfront data if everybody in the process isn’t making use of it and they’re not speaking to each other. It’s the interconnectedness, the connectivity of people in the process working together with it”.
Final words
The fact that upfront data is first on the agenda for the National Conveyancing Week 2024 is extremely positive news for the UK’s conveyancing sector. What is now needed is for all senior stakeholders to come together to create a unified strategy for improved conveyancing efficiency using the latest technology as a foundation to enable the full use of material and upfront information. As Elizabeth Jarvis says, the good news is that there are strong signals that this is already happening.
We have been made aware that the estimated turnaround time for regulated Local Searches in the Bolton Metropolitan Borough Council area is currently 40 working days.
This is due to a technical problem the council have with an internal system, which is causing significant delays. The estimated turnaround time for official Local Searches in this area is currently 85 working days.
If you do have an urgency with any particular case, or if unexpected delays have put the transaction at risk of collapse, we can support you with OneSearch Express, our indemnity policy which provides a data-rich alternative to standard No-Search Insurance, as it also includes a comprehensive report pertinent to a client’s property. Typically returned in just 24-48 hours, Express provides the majority of data (over 70%) that you would typically obtain from Local Authorities, meaning you and your client can complete quickly, and with more confidence.
Our clients have been using Express since 2015 for instances where search delays have put transactions at risk of collapse, and our claims record is exemplary: there are no claims resulting from our Express searches. This is due to the accuracy of our data, and triple quality check methodology. No other company exists with our dataset, comprised of real-time and historical CON29 data.
If you would like more information about OneSearch Express, please email intro@onesearchdirect.co.ukor call 01782 433270.
