Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
Flatter Market Drives Focus on Transparency
A stabilising UK housing market is leading advisers to place greater emphasis on transparency, communication, and customer outcomes in the conveyancing process, according to a report by Mortgage Solutions.
Conveyancing distributor Conveybuddy stated that advisers are increasingly unwilling to accept opaque pricing, hidden fees, and poor communication from conveyancing providers. This shift is attributed to consumers viewing the mortgage and legal process as a single, connected experience rather than separate services.
Harpal Singh, CEO of Conveybuddy, noted that as market activity stabilises or drops, advisers become more focused on the overall client experience. Singh highlighted that transparency is now a significant differentiator in conveyancing, with advisers expecting high standards of fairness and customer understanding from the firms and platforms they work with.
Market Conditions Remain Subdued
The report references a recent survey from the Royal Institution of Chartered Surveyors (RICS), which indicated that the housing market was flatter in April. Buyer demand, agreed sales, and new instructions were reported as either softening or remaining subdued, amid ongoing affordability pressures and economic uncertainty.
RICS survey respondents expect these muted conditions to persist over the next three months. Looking ahead to the next 12 months, sales expectations have turned marginally negative, with sentiment weakening over the past three months.
Tomer Aboody, director at MT Finance, commented that higher mortgage rates, lack of confidence in the government, global conflicts, and the rising cost of living are negatively impacting the housing market. The South East and London are reportedly feeling the effects more acutely due to higher price points and affordability challenges.
For UK letting agents and inventory clerks, these trends highlight the growing importance of clear communication and transparent processes in property transactions, as client experience becomes a key differentiator in a subdued market.
Source: Mortgage Solutions