Some councils are seeing wait times for Local Authority Searches (LA Searches) jump from just six to 62 days, new data from up-front information platform, Home Sale Pack reveals.

But the time taken for England & Wales’ local planning councils to return LA Searches has actually reduced by 22.5% or an average of four days.

However, research from Home Sale Pack says this reduction counts for little, as it is based on reduced demand, not improved process.

LA Searches are an essential part of the conveyancing process but the average turnaround time for an LA Search in England & Wales is 13 days. This is four days less than the 2023 average of 17 days, marking an annual reduction of -22.5%.

Cooling housing market conditions and reduced buyer demand means that across England & Wales’ 344 local councils, 132 (38%) have managed to reduce the average turnaround time since last year.

Gloucester City Council

Gloucester City Council has reduced its average turnaround time by -94.4%, falling from 177 days in January 2023 to just 10 days today.

Meanwhile South Derbyshire District Council has reduced its waiting time by -83.3%, from 30 days down to just five while the average LA Search by Staffordshire Moorlands District Council now takes 10 days compared to 55 days in January 2023 – an annual reduction of -81.8%.

While many authorities have managed to reduce their waiting times, it’s clear that some are still struggling when it comes to servicing the market, with 53 (15%) of the nation’s 344 planning councils recording an increase in average LA Search turnaround times.

LARGEST INCREASE

The largest increase has been recorded by Wirral Metropolitan Borough Council. Today, it takes an average of 62 days to return an LA Search compared to just 6 days in January 2023. This is an astonishing annual increase of 933.3%.

And LA Searches by Bridgend County Borough Council now take 134 days compared to a 30-day average last year – an increase of 346.7% – and Southend-on-Sea City Council has seen the average LA Search turnaround time increase by 250%, rising from two days to seven days.

Other councils to see an increase of more than 100% are North Northamptonshire Council (150%), South Ribble Borough Council (133.3%), Cumberland Council (114.3%), and Bolton Metro Borough Council (106.7%).

Ruth Beeton (main picture), Co-Founder of Home Sale Pack, says: “A cooling housing market over the last year has meant that the workload of many local authorities has reduced, which in turn means some of them have been able to return Local Authority Searches more quickly.

“But it’s fair to say that this reduction is a bit of a hollow victory given that it’s down to falling demand, not improvements in the homebuying process.”

REDUCED PRESSURE

And she adds:  “Despite the reduced pressure, many councils still haven’t actually managed to reduce their waiting times, with a significant number still seeing them increase and by quite a margin in some areas.

“This is concerning because, as we move further into 2024, we fully expect market activity to increase which means councils’ workload will once again pick-up. As a result of this rising demand, homebuyers are going to be faced with elongated waiting times throughout their conveyancing journey as councils struggle to keep pace.

“Our industry needs new standards of excellence and we firmly believe that providing buyers with all of the information they need at the start of their buying journey will help reduce conveyancing times even in the face of rising demand.”

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In an industry first offer, digital homebuying platform, OneDome, has announced unlimited free digital KYC and AML compliance checks.

This initiative brings banking-grade compliance tools, used by financial players like Barclays, Starling Bank and Revolut, directly to the estate agents, at no cost.

The service, encompassing identity verification, document authentication, live video face matching, and comprehensive AML screening, is available to all client onboarding processes.

It promises estate agents a significant reduction in compliance costs, potentially saving thousands annually, and simplifies the onboarding process with a detailed digital report and risk assessment.

CEO, Babek Ismayil, (main picture) said: “The cost of KYC and AML checks disproportionately affects smaller agents due to volume. Through our platform’s high volume of checks, we benefit from favourable rates, enabling us to offer them for free to the agents we collaborate with.”

OneDome’s Transaction Management services extend beyond just AML checks to provide comprehensive support throughout the purchase and sales process. Their fully digitised transaction management platform and Property Moving Assistants, enhance efficiency and provide a faster, smoother completion.

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Since its launch at the end of 2016, outsourced viewings and inspections provider, Viewber, is celebrating the half a million milestone, with over 500,000 appointments successfully completed.

Founded by former estate agent, Ed Mead, and his property PR wife, Jamie, along with tech entrepreneur, Marcus de Ferranti, the company has grown at an average annual rate of 40%.

Although originally aimed at the estate agency industry, Viewber now serves every aspect of property-related industries in every UK postcode, and has seen the fastest and strongest growth in the auction, fast buy and property management sectors.

It’s ability to provide an experienced workforce at short notice on a national level has fuelled the growth, as well as providing additional end to end services like 360 video tours, listing packs and EPCs, inspections and key handovers.

Proud

Ed Mead (pictured left) commented: “From an idea Jamie and I had walking around a field in 2015, it’s been gratifying to watch it grow into a nationwide business with an outstanding client base and a remarkable team running it. It doesn’t seem that long ago we celebrated our 100th viewing; to have now a clocked over 500,000 viewings makes us feel very proud of everything that’s been achieved’

Former managing director of Foxtons, Peter Rollings, who became the first external investor in the brand in 2017 and now sits on the board, added: “I always knew Viewber was answering an issue agents had and this proves it. I’m impressed and delighted at the momentum the business continues to generate and very excited to see what the future holds.”

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Estate agency software provider, Alto, has revealed the details of its ‘next generation’ lettings progression functionality, which existing customers can access for free.

This new feature will speed up and simplify the onboarding of new tenants, enabling them to easily complete tasks such as signing documents, paying deposits and ensuring their details are up-to-date.

A more intuitive sales progression experience is due to follow too, that integrates agents and conveyancers, for a faster, less frustrating and more profitable transaction. This is in addition to new reporting dashboards that are unique to the user and can help them identify where they should focus their time e.g. on a particular vendor, applicant or transaction.

Investment in valuations

Alto is also investing in functionality to help agents prepare for valuations. The newly launched property valuation tool provides agents with insights and information on both the property and the surrounding area. Agents will also be able to access this information while out and about via Alto’s ‘on the go’ offering.

Riccardo Iannucci-Dawson, Alto

Riccardo Iannucci-Dawson, Chief Operating Officer at Alto comments: “We’re very excited to share visibility of our product roadmap for 2024 following direct conversations with our customers about the biggest areas for improvement in the Alto software. We’re investing heavily this year to dramatically improve our core functionality, improve Alto’s UX and also add a raft of new features that our users have voted for.”

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An innovative part rent/part buy scheme called Your Home says it is gaining traction with over 200 estate agents signed up including Leaders, Bradley Hall, LSL and Spicerhaart.

Under the proposition, which in many ways is similar to the Government’s now defunct Help to Buy scheme, Heylo Housing Group’s Your Home product acts as a cash buyer and then turns the property into a part buy/part rent home, allowing agents to present their clients with higher value properties.

NO MORTGAGE

The Neg revealed last year how customers who purchase their home in partnership with Your Home will put down a minimum of 25% deposit of the home’s full value, then pay rent to Your Home on the remaining share on a 999-year lease, capped at 4.89% for the first year – meaning no mortgage is required.

For example, a client wanting to buy a property valued at £250,000 (minimum household income £26,000) would need a deposit of £62,500. Your Home would then invest the remaining £187,500 and monthly rent on the 75% unowned share in the first year would be £764.06.

Clients then have the option to ‘staircase’ – buy more of the actual property and rent less – as and when it suits, eventually owning 100% of the property and the freehold.

Your Home also pays a £500 referral fee to estate agents for every introduction that becomes a completion.

GROUND-BREAKING

Agnieszka Skowronek, Head of Your Home, says: “Your Home is a ground-breaking product, which is supporting both buyers and estate agents, especially with the current housing market.

Agnieszka Skowronek, Your Home

“We’re thrilled that the past year has seen us partner with more estate agents than ever before, and we look forward to continuing to build these relationships and welcome new Your Home customers into their dream home.

“At Your Home, we understand how difficult securing a mortgage can be, as well as the impact that this is having on estate agents who may be struggling to find the right home for each buyer.

“Through our product, customers don’t need to have a mortgage, just a minimum deposit of 25% – and the remaining property amount is paid through a rent to Your Home.”

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New build home buyers are to be offered a mortgage tailored to their needs with low interest options.

Broker ‘Own New’ has launched a new product, working closely with major developers, which it says will give some buyers a 1% borrowing rate or even lower.

Below 1%

Buyers with a high deposit or equity could be eligible for rates below 1%, Own New says.

Own New was set up in 2022 by entrepreneur Eliot Darcy (main picture), and its Deposit Drop product has been helping buyers in the North East and Yorkshire to buy a new home with a 5% deposit since early last year.

Own New’s ‘Rate Reducer’ is launched today with Halifax, Virgin Money and Barratt Developments.

Lenders Gen H, Furness Building Society and Perenna have also confirmed they will soon be offering mortgages through the scheme.

Other developers signed up to take part include Persimmon, Taylor Wimpey, Bellway and Berkeley Homes.

Incentives

Own New Rate Reducer works by using incentive budgets which housebuilders offer to their customers, to reduce the monthly mortgage payments over a fixed term.

We believe that Rate Reducer will be a significant boost to many people’s home-buying dreams.”

Darcy says: “Our ethos is to make home ownership and mortgage lending in this country open to more people, and we are confident that the launch of the Own New Rate Reducer will achieve that.

“Alongside the national lenders and housebuilders who have signed up to the scheme, we believe that Rate Reducer will be a significant boost to many people’s home-buying dreams,” he says.

“People can benefit from Rate Reducer whether they have a small or large deposit. For some people who already have equity in their home, it could herald the return of the sub-one per cent mortgage deal.”

Property expert slams 1% mortgages as ‘unworkable’

New plans for 1% mortgage deals leave property and finance experts divided

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Top spot in the 2023 Kerfuffle Awards has been won by conveyancing firm, AVRillo.

The winners of the proptech marketing platform’s supplier of the year awards are selected based on over 7,000 estate and letting agent reviews and Net Promoter Scores collected in the dashboards.

Joining AVRillo on the overall finalists’ podium was Reapit, with Silver and One Utility Bill which took Bronze.

Angelo Piccirillo, CEO, AVRillo

Angelo Piccirillo, CEO & Co-Founder, AVRillo, added: “Our mission is to marry the conveyancing and estate agency industries, which have struggled to collaborate, to reach the Danish system of 30 to 60-day property exchanges rather than the 5-month UK standard.

There’s also an interview with the founders of AVRillo, where they talk about what they did in 2023 to warrant such consistent feedback from their clients.

Whole market recognition

The Kerfuffle Awards recognise suppliers across more than 40 categories including tenant referencing, mortgages, franchising, accountancy and finance and property management and maintenance.

Simon Whale, Chief Kerfuffler

In total, over 100 property industry suppliers were given awards, including The Negotiator, which received the Silver award in the Events & Awards category for The Negotiator Conference & Expo and The Negotiator Awards.

A full list of winners can be seen below.

Simon Whale of Kerfuffle, commented: “Massive congratulations to the winners and thanks to everyone for taking the time to share their feedback.”

2023 Kerfuffle Award Winners

Accountancy & Finance Software

1. Payprop
2. LettsPay
3. SME Professional

Auctions

1. LetsBid
2. Pattinson
3. Network Auctions

Automated Marketing & Nurturing

1. Agent Extra
2. Estate Track
3. Property Deals Insight

Boards, Displays & Refurbishment

1. Intouch Display
2. SPE Property Signs
3. Kremer

Branding Strategy

1. Dataloft
2. Agent Extra
3. Estate Track

Business Legal & Compliance

1. Dawsons
2. Smart Compliance
3. Elite Consultancy

Concierge

1. Rello
2. The Property Portal

Conveyancing

1. A.V.Rillo
2. Simply Conveyancing
3. ASAP

Copywriting & Content

1. Estate Track
2. Homewords

CRM

1. Reapit
2. Veco
3. Loop

Debt Recovery

1. Sinclair Taylor

Deposit Protection

1. Flatfair
2. The Depositary

Digital & Social Media Marketing

1. Dataloft
2. Agent Extra
3. Estate Track

Events & Awards

1. Women In Estate Agency
2. The Negotiator
3. Propertymark One

Franchise

1. Belvoir
2. Ewemove
3. Winkworth

HR & Recruitment 

1. Crux
2. DeverellSmith
3. LCA

Hybrid Model

1. EXP
2. Property Experts
3. Yopa

Insurance

1. Reeds Financial
2. HM Referencing

Inventory & Inspection Software

1. Inventory Base
2. No Letting Go
3. Inventory Hive

Management Consultancy 

1. Stephen Brown
2. The Estate Agent Consultancy
3. The Baldock Brothers

Management Information

1. TwentyEA
2. Dawsons
3. Modus

Market Research

1. Dataloft
2. Estatetrack
3. Sprift

Mortgage

1. Reeds Financial
2. MAB

Network

1. Women In Estate Agency
2. HMO Network
3. Women In Residential Property

Outsourced

1. Face for Business
2. Agent Extra
3. No Letting Go

Photography, Photo & Video Editing

1. Auto Social
2. DCTR

Printing

1. Spectre
2. Propalt
3. Homesearch

Proactive Appointment Generation

1. Agent Extra
2. Moneypenny
3. SME Professional

Progression Tracking

1. Propoly
2. Rello

Property Management & Maintenance

1. Reapit
2. Keyzapp
3. The Depositary

Property Safety Certificate

1. No Letting Go
2. KPR
3. SME Professional

Property Portal

1. On the Market
2. Zoopla
3. Rightmove

Property Surveys

1. The Property Portal
2. SDL Surveying

Agency Review Management

1. Google
2. Trustpilot
3. Estate Track

Telephony, Networking & IT

1. Face for Business
2. Moneypenny
3. SMS Speedway

Tenant Referencing

1. SME Professional
2. HM Referencing
3. Let Alliance

Training

1. Crux
2. Dawsons
3. Able Agent

Utility

1. One Utility Bill
2. KPR

Valuation Presentation

1. Dataloft Inform
2. Sprift
3. Property Deals Insight

Website Design, Content & SEO

1. Agent Extra
2. Estate Track
3. Estate Apps

Website Functionality (Search, Chat, Valuation) solutions

1. Moneypenny

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Cloud-based software system Alto has teamed up with Zero Deposit allowing agents to offer clients a regulated and automated deposit replacement service as well as helping to speed up end of tenancy admin tasks.

Research by Zero Deposit shows that 65% of tenants would opt for an alternative to a traditional security deposit and the firm already works with already works with some of the UK’s largest letting agents including Connells Group, Foxtons, LSL and Knight Frank

REGULATED

As Alto’s latest client referral partner agents will be able to provide their customers a fully regulated and automated experience and help remove the administrative burden associated with the end of a tenancy through faster claims payments.

Riccardo Iannucci-Dawson, Alto

Zero Deposit also provides transparency for tenants, with 100% of lets protected with 6 weeks’ worth of cover – even with a cash version where the firm tops up the extra week.

Riccardo Iannucci-Dawson, Chief Operating Officer at Alto, part of Houseful, says: “The main barrier for today’s tenants is raising a deposit with over 70% of tenants borrowing to fund their deposit.

“Zero Deposit removes this barrier, widening the pool of prospective tenants for letting agents and ensuring they find the perfect match for their landlords.

STAND OUT

“We’re delighted to partner with the leading provider in this space and believe that implementing it is an easy way for Alto customers to stand out from the competition.”

Sam Reynolds, Zero Deposit

Sam Reynolds (main picture, inset), Chief Executive at Zero Deposit, adds: “There has been considerable interest from our partners in launching an integration with Alto.

“It’s a seamless experience for our partners to win more instructions, attract the best quality tenants and radically improve the end-of-tenancy experience. It’s a win for landlords, tenants and letting agents.”

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