Co-op Legal Services has backed the Conveyancing Association’s (CA) campaign to reform the leasehold transaction process.
Last week the CA stated that it will continue with its campaign to reform and amend the leasehold transaction process, despite recent developments.
Sarah Ryan, head of conveyancing for Co-op Legal Services, said:”I agree with the Conveyancing Associations’ campaign, it is time for reform. Leasehold transactions can take over four weeks longer to exchange than a freehold transaction. Fees for management information can be exorbitant ranging from £100 to £1000. This is difficult for any consumer looking to budget effectively, the fee coupled with delay will undoubtedly contribute to unnecessary pressure on the consumer, when they are already involved in a stressful home buying situation.
“Standardising the process, providing set protocol and frameworks will assist the consumer and also the housing market generally, by increasing turnaround times and reducing unnecessary costs.”