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1. It's taking longer than ever

You might assume that the dawn of the internet and the digitisation of records means the process has sped up but that’s very far from the case.

Even a straightforward sale is likely to be up to three months but it could be a lot longer.

Clive Tattersall

Clive Tattersall, the managing director of Joules Estate Agents in Stockport, has been selling houses for 44 years and has sold more than 5,000 properties. “The first secret we keep is not telling them how long it is going to take!” he says.

“Because, from when they first see it to when they actually get the keys, even a straightforward sale is likely to be up to three months but it could be a lot longer. If there’s a chain involved we’ve had people who’ve been waiting six, nine, 10 months and even longer… The completion time it takes now is actually longer than when I first came into the industry.”

Beth Ruddolf, director at the Conveyancing Association, says: “When I first started 34 years ago it took six to eight weeks, that’s what we told everybody. The reality is that things have got a lot more complex and a lot slower.”

The Society of Licensed Conveyancers says that many issues contribute to the delays – such as the time it takes for responses to come back for local searches. They also say the industry has been struggling to recruit and retain staff.

2. It's quite different in Scotland

Listener Deb contacted the programme to say: “I have experience of English and Scottish property sale/purchase and the Scottish system is SO much less painful and with less scope for ‘faffers’.”

It certainly is true that the Scottish system can be quicker and purchases are less likely to fall through than other parts of the UK.

Simon Gammon is head of finance at the real estate company Knight Frank. He says: “The two or three main differences are that in Scotland you get given a Home Report and information pack upfront, with everything from the survey, the Energy Performance Certificate, detailed questionnaires.

“You get all that information which removes the need or the risk of surprises. There’s no real gazumping that goes on in Scotland…

“And finally, estate agencies in Scotland tend to work and offer the conveyancing package altogether. So you can get the same service under one roof.”

The Ministry for Housing, Communities and Local Government says it is considering how to improve the process of buying a home and will look at evidence from jurisdictions like Scotland as they develop plans.

3. Buyers should sell themselves to sellers

It’s quite common to think about dressing a house or a flat to make it more attractive for sale – it’s common to hear about a home’s ‘kerb appeal’. However, there are also steps that would-be buyers can take to make it more likely their offer will be accepted.

“I think it’s always important to consider yourself in competition when you go to buy a house,” advises Simon Gammon. “You might be offering less than the asking price but if you imagine you’re in competition you can put a very compelling email to the estate agent outlining your offer and you want to explain why you’re the best buyer.

“You might have an agreement in principle for a mortgage, you might have no chain, you might be a cash buyer. But putting yourself forward as the best buyer is a great starting point.”

4. There are government schemes to help you save

Imogen, 29, would like to buy a first home with her partner in Derby but tells Money Box it’s a “constant uphill struggle” to save a deposit.

Ottilie viewing homes in Stockport with her dog Smirk

“For me and perhaps for people in their 20s today it seems like it’s a dream.” She asks: “What more could someone in my situation do to make it more likely we can buy a house?”

The Money Box experts suggest she looks at some of the government schemes to help with saving for a first home, such as a Lifetime ISA. That’s an account that can be opened between the ages of 18 and 39. Savers can add £4,000 a year and the government will top that up with up with a 25% bonus of up to £1,000 each year.

It can only be withdrawn without paying a penalty at age 60 unless it’s being used to buy a first home. That home cannot be worth more than £450,000, so it’s important to understand the restrictions before saving into this kind of account.

5. Your rent can help prove you can afford a mortgage

While renting can feel frustrating for first-time buyers, it is possible that paying that rent will help prove to a bank that a buyer is reliable. “When you’re being assessed for a mortgage, one of the questions the underwriter will ask you is ‘what rent have you been paying?’ If you can show a consistent history of paying that rent on time at a similar level to what the mortgage might be, that will certainly help you.”

There are also schemes that allow renters to build up their credit score through paying their rent, such as the Rental Exchange Initiative.

6. You don't always need a huge deposit

“There are now some products out there where actually you don’t need a deposit,” says Beth Ruddolf. “It used to be like that all the time prior to the economic crisis.”

“The lenders have been through a period of 18 months of really not lending at the level that they’d like to,” agrees Simon Gamon.

“And so they are looking at what they can do to support people who need a mortgage. It’s an improving picture at the moment.”

7. It's important to be flexible

Buying or selling a home might feel like a very formal, official process but there are still very human emotions that can come into it.

Lucy runs an estate agent called Stowhill Estates and emailed Money Box Live with one staggering story. She says: “Buyers and sellers MUST remain flexible and reasonable throughout the process. We recently nearly had a £4m sale collapse because one party didn’t want to exchange contracts on Friday 13th! Nightmare!”

You can hear more of those interviews and a guide to buying a home in the special episode of Money Box Live on 大象传媒 Sounds.

The information contained in this article was correct at the time of broadcast on 9 October, 2024.