81% of homebuyers across the country want a wider adoption of digital documentation tools to speed up the process, according to new research by DocuSign.
The firm commissioned a survey of 1,000 UK homebuyers, 150 estate agents and 150 solicitors to explore how the end of the stamp duty holiday was impacting UK homebuyers and property professionals.
84% want to sign legal documents electronically, 76% want entirely electronic contracts, 60% want online payments and 51% said there should be an option to have electronic witnessing.
Matt Gibbons, regional vice president, EMEA commercial sales at DocuSign, said: “The evidence is overwhelming – UK house buyers are frustrated by the widespread reliance on slow, manual processes.
“Lockdowns and social distancing have encouraged many businesses to adopt dynamic digital tools but property buying remains dependent on traditional methods.”
83% of estate agents offer some form of electronic documentation service, and 81% use it for non-client facing processes as well. However, 51% of solicitors only accept documents that have been signed manually with pen and paper.
Gibbons added: “Solicitors and estate agents should be taking full advantage of digital documentation solutions. The research shows 78% of UK homebuyers who have used digital documentation solutions said it made the buying process smoother.”