Digitisation could halve property transaction times, says new report
Original Article Summary
The findings are based on a 12-month regional pilot in West Yorkshire
PropMatch Curated Analysis
Digital adoption in property transactions could reduce mortgage completion times by 53% from 126 to 59 days, with potential £1.5bn annual savings from reduced failed transactions. West Yorkshire pilot data shows significant efficiency gains across AML checks, source of funds verification, and leasehold processes.
Investor Relevance
Faster transaction times reduce holding costs, improve cash flow predictability, and enhance portfolio liquidity. Reduced failed transaction risk (currently £1.5bn annually) means more reliable deal completion. Leasehold investors particularly benefit from 34-day timeline reduction through better early information.
Original Source:
Property Industry EyeStay Updated
Subscribe to our weekly briefings for curated property news and insights