Mortgage brokers are facing increasing pressure from long transfer delays as homebuyers wait months to exchange and risk seeing mortgage offers expire before they can complete them.
In September, 42% of new homebuyers surveyed by Lyons Bowe Solicitors said conveyancing was the biggest factor slowing down or hindering smooth transactions. Nearly a quarter (23%) said slow communication between buyer and seller carriers was the main reason for delays.
Also in September, Propertymark’s Housing Insight Report found that transactions were taking longer to complete, with 51.2% taking more than 17 weeks to exchange, with delays specifically attributed to the conveyancing process.
When the interest rate on a £2 million residential mortgage rises, it makes a material difference. It’s happened once or twice this year
The UK Government’s 2026 roadmap for home buying reform states that once an offer is accepted, it takes around 120 days on average to complete – around 60% longer than in 2007.
Legal Ombudsman data for 2025/26 shows that residential conveyancing complaints increased by 41% year-on-year, to 3,039 complaints accepted.
Mortgage brokers say they are sympathetic to the pressures on conveyancers, but they are themselves under pressure due to delays.
In the worst cases, the transfer delay is so long that mortgage offers have expired, leaving customers in the current rate environment facing significant increases in their expected monthly mortgage payments.
“I have a deal now, first time buyer, no chain,” says Chris Sykes, director of MSP Financial Solutions, “but because of the lease extension, it took a full six months.
“The buyer’s 4.39% interest rate runs out in a couple of weeks. If it doesn’t, they’re looking for a rate closer to 5%, so it’s a difference of thousands of pounds. It’s a by-product of how long some of these things take, and it’s a real risk for borrowers.”
When you need the landlord to send a certificate to understand whether the building needs remedial work, it often takes four weeks for a response
“It’s happened once or twice this year, on a couple of higher value deals,” says Devraj Rai, director of specialist finance at Cares Capital. “When you deal with those, when the interest rate on a £2m residential mortgage goes up, it makes a fundamental difference.”
Many moving delays focus on rental homes.
Figures from Connells Group show that in April, leasehold homes took an average of 155 days to reach exchange, compared to 97 days for freehold properties – the biggest gap recorded by Connells.
“When it’s just freehold transactions, they can happen very quickly, in weeks rather than months,” says Sykes. “And if there are a number of leasehold properties in a chain, it can go in and out these days.”
“If you go back five years, a lot of lawyers wouldn’t differentiate their rates, and now I think a lot of them are charging a premium for overtime (with the lease).”
We have concerns about fines for non-compliance with anti-money laundering risk requirements, even in the absence of evidence of money laundering
“It depends on the case, but apartments definitely take longer, with all the searching and checking of service charges, and making sure the landlord’s package is up to date,” says Aaron Strutt, product and communications director at Trinity Financial. “Some law firms have a large caseload and it’s hard to keep up.”
Conveyancers say their workload is greater as a result of legal changes, many of which relate to rental properties.
“This is a big combination of lack of advance information, complexity of title with shortening lease terms, escalating ground rents, property rental fees and managed freeholds; plus, of course, landlords clinging to secondary leasehold reform legislation,” says Beth Rudolph, delivery director at the Conveyancing Association.
“Furthermore, we have a fear of fines for non-compliance with anti-money laundering risk requirements, even in the absence of evidence of money laundering.”
My buyer’s rate of 4.39% is expiring soon. If it doesn’t pan out, they’re looking for a rate closer to 5%, so it’s a difference of thousands of pounds
Rudolph also cites additional AML requirements and inexperienced trainees as adding to the workload for carriers.
Chris Parry, legal business development director at Thomas, says the delay mostly affects chains that include first-time buyers and rental properties. The influx of previous buy-to-let properties, many of which were rented, has exacerbated the problem, especially as these are often properties that first-time buyers can afford.
But Barry says the biggest delay in the transition is the Building Safety Code, which went into effect in June 2022.
“When you need the landlord to send a certificate to understand whether the building needs remedial work, it often takes four weeks to respond, which is the legal maximum,” he says.
“Those are the ones causing the real delay.”
Ministers are proposing reforms aimed at simplifying the home buying process, including clearer criteria for information requests and timelines. The government estimates its proposals could make transactions about four weeks faster and reduce failed transactions from one in three to one in seven.
If there are a number of rental properties in the chain, withdrawals can be made these days
Rudolph says she hopes the Home Buying and Selling Reform being implemented by the Ministry of Housing, Communities and Local Government, along with Leasehold and Freehold Reform and Shared Ownership Reform, will simplify transactions by providing key information and legal documentation up front, helping to identify problems early and reducing delays and failures.
Until the proposed changes take effect, brokers, lenders and carriers must work together as best they can to manage delays and protect borrowers from financial consequences.
This article appeared in the October 2026 issue of Mortgage strategy.
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