Aborted property sales cost UK Homebuyers over £1 Billion in 2024

Around 300,000 aborted sales, at a cost of a little under £3500 meant disappointed home buyers lost £1bn in 2024 according to recent research.

A report, published in Today’s Conveyancer said an estate agent survey showed more than 296,000 transactions fell through last year at a total cost of £1.01bn based on an average cost to home buyers of around £3,500, once all home moving fees have been taken into account.

As well-known conveyancers in Staines, and the surrounding areas, we know moving home is a complex and stressful process, as we have often said in our articles over the years. In fact, this opinion is backed up in many reports, stating it as one of the most stressful times in life.

There are many reasons that a house move can fall through, but poor conveyancing is one of the issues that adds hugely to a difficult time.

Purchasing a home is likely the biggest financial commitment most people will ever make. It’s vital that the legal side of the process is handled with care, precision, and local insight. Unfortunately, some buyers opt for low-cost, remote conveyancing services—often hundreds of miles away—where there's limited accountability and little understanding of local property nuances.

This is where experienced, local conveyancers make a real difference. A good solicitor will maintain clear, consistent communication and raise any concerns early in the process. That way, if a buyer needs to rethink the purchase, they can do so before becoming too financially and emotionally committed.

From the moment an offer has been accepted it can take a few months to complete, but early red flags and a strong dialogue with a good estate agent and solicitor partnership makes a huge difference.

Property moves where local firms act for their clients on the basis of making sure that every detail has been scrutinized is something that gives enormous peace of mind in this most difficult of processes. It really isn’t worth any short cuts.

Remember if you wish to speak to Dale & Newbery about conveyancing or any other legal matter, please do not hesitate to contact us. We are happy to help.