One question we’re constantly asked is: “How long does it take to move home?”
It’s always a difficult question to answer as a number of factors can affect the outcome.
The main question is: Is the Local Search holding up the process, or is it because of a lengthy chain of linked transactions?
Local Authority Searches are carried out to find specific information about your property and surrounding areas. If you are borrowing money to purchase your home, then it is normally a condition to carry out a local search. If you are buying a property outright, however, it is entirely up to you whether or not you want one.
For further information about what Local Searches actually look for, check out our blog.
Authority Search times can vary depending on which local authority carries out your search.
You may find it only takes a couple of days, but sometimes it can take over a month.
Tania Edwards from Conveyancing Data Services predicts that volumes will be steady throughout the year; there should be no threat of interest rate increase to influence a rush of buyers.
Nonetheless, she says that the first quarter may be a little busier than usual due to the ‘Buy to Let’ and ‘2nd home’ stamp duty surcharge.
Although, she reckons that new-build developments won’t have much of an impact. Thus, house prices will continue to rise, making it more difficult for those trying to scramble their way onto the property ladder.
What are the results?
Unfortunately, some Local Authority Searches can take anything between 20-42 days.
We have fresh OLA turnaround time results from January 2016.
Most were positive. Here’s a big shout out to our top 5! You’re in luck if you’re moving home in any of these areas:
You’re also in a good position if you’re moving home in our area of Bristol and South Gloucestershire with turnaround times of 4-5 days.
However, it’s a bit of a bummer if you live in areas such as Salisbury, West Dorset or Braintree, as they can take up to 31 days.
At the bottom of the league we have North Wiltshire, where it takes 42 times as long as the top performing council.
Of course, improvements are constantly being made to shorten the wait times for the slower areas.
Only time will tell.
We try and manage expectations for clients so that they are aware that delays in the conveyancing process can sometimes be affected by turnaround times of local authorities if you happen to be in one of the aforementioned areas.
Are you thinking about moving home and want the process to be as stress-free as possible? You should download your free First-Bites E-Book for top tips and advice!