This explanation was prompted by John Coulter's article, another suggested piece that is right on the money when it comes to bringing collaborators together. AI is doing its thing—linking up people working on the same problem from different angles—and this discussion on transaction delays is a prime example.
There's been a lot of focus on why transactions take so long, with blame often falling on conveyancers. But the real issue isn't just the conveyancing process—it's the time it takes to form a complete chain in
the first place.
Chains Are Taking Longer to Form
Most transactions exists within a chain—a series of linked sales where each move depends on another. At one end is the starter node (a first-time buyer, investor, or anyone purchasing without selling). At the other end is the stopper node—the final seller whose move enables the whole chain to complete.
Historically, these chains came together faster, but now it takes longer to find and link all the right buyers and sellers. Transaction volumes have been declining at around 2% per year, meaning there are fewer buyers able to fund the next step up the ladder.
Why the Property Ladder is Slowing Down
One major reason? The gaps between rungs on the property ladder have widened.
It's much easier to find someone who can afford a £10,000 step up than someone who can afford a £100,000 jump. As prices rise, affordability becomes a bigger constraint, meaning it takes longer to match up the right buyers and sellers.
Then there's the issue of stopper nodes creating unavoidable delays:
- Probate sales: If the final property in a chain is a probate sale, everything depends on an executor who may not even have started the process. Unlike an experienced seller, a grieving family member handling probate is often unprepared for the legal and administrative work involved. That's not a failure of conveyancing—but it is a delay buyers should know about upfront.
- New-build sales: If the final home in the chain is Plot 157 in Phase 3, not due for completion until week 43, that's not a problem with conveyancing—it's a material delay that needs to be disclosed so buyers understand the timeline they're committing to.
The Role of Technology: Not a Fix, but a Transparency Tool
Technology won't grant probate faster, build houses quicker, or make property more affordable, but what it can do is make sure these delays are understood and disclosed early on.
This is where the debate on transaction delays often misses the point: Delays aren't always the problem—unknown delays are. Some may argue that full disclosure isn't always in their client's best interests, but the fact remains: buyers have a right to know whether a sale is truly ready to proceed.
Moving the Debate Forward
There's been some groupthink in how this debate has played out, with certain voices dismissing any push for reform as an attack on conveyancers. But this isn't about blame—it's about clarity.
One critical piece missing from the NTSELAT material information guidance is the recognition that "the chain is not yet complete" is itself material information. If a transaction is waiting on probate, a developer's build schedule, or affordability constraints within the chain, that's information that buyers need to have before they make an offer.
If we want to reduce transaction times, we need to focus less on blaming process inefficiencies and more on improving upfront disclosure. The sooner we shift the conversation from frustration to clarity and transparency, the better the process will be for everyone—agents, conveyancers, buyers, and sellers alike.