Property transactions in the UK are taking significantly longer to complete than the traditional 10-12 week benchmark, with freehold sales now routinely requiring 12-16 weeks and leasehold transactions extending to 12-18 weeks, according to RG Law.<\/p>\n
Tina Khanna, Conveyancing Director at RG Law, attributes the extended timelines to increased regulatory requirements rather than inefficiency within the conveyancing process itself.<\/p>\n
The expansion of anti-money laundering rules, source-of-funds verification, sanctions screening and enhanced due diligence checks has fundamentally altered the conveyancing process. These requirements now run parallel to traditional legal work, with checks often needing to be revisited as circumstances change during transactions.<\/p>\n
\u201cOne of the most significant drivers of change has been the expansion of regulation,\u201d Khanna stated, noting that these requirements demand clear, auditable evidence and professional judgement at multiple stages.<\/p>\n
Source-of-funds checks cannot always be automated, particularly where funds originate from multiple sources, overseas accounts, gifts or business income. Documents must be reviewed in context, with explanations clarified and inconsistencies resolved manually.<\/p>\n
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Mortgage lenders now exert greater influence on transaction timelines, with funding decisions dependent on layered compliance checks outside conveyancers\u2019 direct control. Additional documentation requests, affordability reviews and late-stage clarifications have become increasingly common.<\/p>\n
Identity and sanctions checks may require repetition if transactions are delayed, documents expire or circumstances change, adding further time to the process.<\/p>\n
The extended timelines have implications for estate agents, buyers and sellers who continue to operate under expectations based on the outdated 10-12 week benchmark. Khanna emphasised that understanding compliance dependencies and regulatory requirements is essential for setting realistic client expectations.<\/p>\n
The shift reflects a system built around risk management, transparency and consumer protection, with delays frequently driven by compliance dependencies rather than legal inefficiency. Third-party input, verified documentation and alignment of regulatory and lender requirements all contribute to extended timelines.<\/p>\n
For property professionals, the traditional 12-week conveyancing benchmark no longer reflects market reality, requiring adjustment of client communications and transaction planning accordingly.<\/p>\n","protected":false},"excerpt":{"rendered":"
Property transactions in the UK are taking significantly longer to complete than the traditional 10-12 week benchmark, with freehold sales now routinely requiring 12-16 weeks and leasehold transactions extending to 12-18 weeks, according to RG Law. Tina Khanna, Conveyancing Director at RG Law, attributes the extended timelines to increased regulatory requirements rather than inefficiency within […]<\/p>\n","protected":false},"author":1,"featured_media":8053,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[2],"tags":[],"class_list":["post-8052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n