An interview with Stuart Forsdike the founding partner of PCS Legal. The award-winning conveyancing solicitors deliver exceptional services for property transactions, remortgages, probate, and more.
Hi Stuart, please introduce yourself
I’m Stuart Forsdike, founding partner of PCS Legal, with over 25 years of experience in the property industry, specialising in residential and commercial conveyancing, wills, and probate.
I began my career in conveyancing in 1997, qualified as a licensed conveyancer in 2003, and established PCS Legal in 2006. Since then, we’ve grown from a small office in Basildon to one of the largest firms of licensed conveyancers in the UK, with offices across multiple locations and a team of over 170 staff.
As the Founding Partner of PCS Legal, can you provide an overview of the current conveyancing market and the main challenges buyers and sellers face?
The conveyancing market is certainly challenging at the moment, with one of the most pressing issues being the severe delays at the Land Registry. These delays are having a significant impact on both buyers and sellers, with some registration processes now taking up to two years to complete. This causes financial strain and introduces added complexities and risks, such as title fraud, into property transactions.
The root of these delays stems from the Land Registry’s struggle to cope with the surge in property transactions, particularly following the stamp duty holiday post-COVID. The overwhelming volume of transactions has led to prolonged processing times, creating a substantial backlog that affects everyone involved in property transactions.
What are the specific consequences of these delays for homeowners and homebuyers?
The consequences can be really frustrating. Homeowners looking to sell or refinance their properties often find themselves in a state of limbo because their ownership status remains unregistered. This can severely hinder their ability to move forward with transactions. For borrowers in new-build flats, these delays can mean being stuck on expensive standard variable rates while they wait for registration to complete. The uncertainty and additional costs associated with these delays add significant stress to an already complex process.
With such challenges, what can buyers and sellers do to navigate the current market more effectively?
Preparation is key. For sellers, this means having all necessary documentation in order well before listing their property. This includes details on utility providers and any planning or building regulation documents if you’ve made home improvements like extensions.
If you don’t already have a property logbook, I strongly recommend creating one. These logbooks can securely store all your property-related data, making it easily accessible and helping to expedite transactions.
At PCS Legal, we’ve seen how helping our clients to have a comprehensive property logbook can save significant time and prevent unnecessary delays.
For buyers, it’s crucial to instruct your team of professionals—lawyers, surveyors, and mortgage brokers—as early as possible. The sooner these experts can begin their work, the better prepared you’ll be to move quickly when the time comes. This proactive approach can shave weeks off the transaction timeline, especially when combined with services that prepare essential documents and conduct preliminary checks in advance.
Technology seems to play a crucial role in managing these challenges. Can you elaborate on how it can help mitigate some of the issues, particularly with regard to the Land Registry delays?
Technology is indeed a vital tool in modern conveyancing. For instance, our client Identification App uses facial recognition technology to streamline ID verification, eliminating the need for physical documents and saving time. Additionally, our online case tracking system allows clients to monitor the progress of their cases in real-time, providing much-needed transparency.
However, in the context of Land Registry delays, innovative solutions like Title Guardian are particularly relevant. Title Guardian uses advanced technology to detect suspicious activity and provide instant alerts, helping homeowners mitigate the risk of title fraud during these prolonged registration periods. While these measures offer some relief, they highlight the urgent need for systemic change within the Land Registry to address the capacity issues at their core.
I think it’s also important to point out that whilst technology has its place, one of the most crucial elements of conveyancing is having a proactive team that you can contact directly rather than just on an automated online chat system. Homeowners and buyers want to be able to get updates, speak to people and know that someone has the transaction in hand.
What innovative services does PCS Legal offer to address current market challenges?
We’ve launched several services aimed at expediting the transaction process. Our Fast Move and Express Move services, for instance, significantly reduce the time it takes to complete sales and purchases. The Fast Move service expedites the transaction time for vendors by preparing essential documents and a Draft Contract Pack within 24 hours of a sale being agreed. This quick turnaround is crucial in achieving faster completions.
For buyers, our Express Move Service allows us to initiate the legal process as soon as the client decides to buy, rather than waiting until a property is found. By conducting ID/AML checks, initial fact finds, legal forms, and obtaining money on account in advance, we can commence conveyancing and submit searches within 24 hours of receiving property details from a seller’s lawyer. This proactive approach saves 3-4 weeks in the total transaction timeframe, making a significant difference in the overall efficiency.
Given the current state of the market, how do you see the future of conveyancing evolving?
The future of conveyancing will likely focus on increasing efficiency, transparency, and security through technological advancements. However, to truly address the challenges we face—especially those related to the Land Registry—there needs to be significant investment and modernisation within the system. Without systemic change, the delays will continue to cause issues for homeowners and homebuyers alike.
As it stands, the Land Registry’s aim to have no applications older than 12 months appears increasingly unlikely. There is an urgent need for action to safeguard the integrity of property transactions and ensure that the conveyancing process is as smooth and efficient as possible.
For more information, contact PCS Legal at www.pcslegal.co.uk
Tel: 01268 590003 or email at quotes@pcslegal.co.uk