Lawyers have been voted as the worst performers in the home buying and selling process for the third consecutive year according the latest annual survey by property search website, PropertyFinder.
The survey, which compares how lawyers, surveyors, estate agents, and mortgage lenders perform in the house buying process, places lawyers at the bottom of the list for service.
According to the survey, lawyers provided not only the poorest quality of service but are the most obstructive too. They also scored badly on value for money. Respondents to the survey complained about lawyers’ insistence on writing letters instead of phoning or using e-mail. Women were particularly hostile to the legal profession with 61% of female respondents saying they were bad or terrible value for money.
And mortgage lenders remain in the bottom two for the second consecutive year as mortgage borrowers expressed frustration at the difficulty of contacting their potential lender through call centres and also at the cost of rising mortgage fees.
Meanwhile surveyors are seen as providing the best value for money and the best quality of service. Even though a full structural survey has a high cost the survey claims consumers see it as money well spent.
Estate Agents were cited as the top performers in terms of minimising delays and both buyers and sellers found them the easiest to communicate with, particularly because they work at weekends. However, they scored less well on quality of service and came bottom on value for money.
Warren Bright, chief executive of propertyfinder.com said: "Lawyers are still the top villains in the house buying process. Although their role is a crucial one, many of their practices are out of date and they cause buyers and sellers an enormous level of frustration at what is already a very stressful and anxious time. Surveyors scored top marks – a good survey can make or break a deal and save buyers thousands of pounds in unexpected repairs."
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Matthew West on 020 7484 9893 or email [email protected].IFAonline
Head of UK intermediary distribution
‘Promising lead’ or ‘Back to the lab’?
PA360 2019 revisited
Complaints triple in past year
Our weekly heads-up for advisers