Property transactions taking longer to complete – how to speed-up your home sale or purchase

It takes around 115 days for a property sale to reach exchange in England and Wales - a 25% increase from four years ago. We explain what is causing the backlog and how to clear it

Keyring on sold subject to contract sign
(Image credit: Getty Images/stocknshares)

Homebuyers and sellers are waiting longer for property sales to complete due to the UK’s “Dickensian legal process,” research suggests.

Most property sales used to take around 12 weeks to get through the legal conveyancing process but extra paperwork and regulatory requirements mean it is now taking longer for a transaction to reach the exchange stage.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.