Prominent law firm Millar McCall Wylie and leading property portal PropertyPal have backed calls for urgent reform of Northern Ireland’s homebuying process, after new research found local movers are more likely than anywhere else in the UK to have experienced a failed property transaction.
The Future of Homebuying report, published by the Open Property Data Association (OPDA), points to failed transactions, repeated paperwork, delays and poor communication, with findings indicating that 77% of respondents in Northern Ireland had experienced a property transaction collapsing before completion.
At a time when demand remains strong across the Northern Ireland housing market, Millar McCall Wylie and PropertyPal say the client experience after agreeing a property must keep pace with the way people now search for and purchase homes.
Both firms believe the findings reflect longstanding issues that can only be tackled through closer collaboration across the property, legal and financial sectors, and say their own partnership is one example of how practical progress can be made.
Millar McCall Wylie and PropertyPal last year launched an online legal costs calculator to give potential homebuyers instant estimates for fees, outlays and stamp duty earlier in the process. Both firms have also been working closely together to provide public guidance on conveyancing, including what buyers can expect, what documents may be needed and how to get ‘move ready’, with the aim of reducing confusion and avoidable delays.
“For too many, buying a home still involves an unnecessary level of uncertainty and stress,” said Christopher McCandless, Chief Executive, Millar McCall Wylie. “The findings of the OPDA report will not come as a surprise to anyone who has recently bought or sold a property, but they are a clear signal that reform is needed urgently.
“For us, that means giving people the facts, and ultimately the confidence, they need at one of the biggest financial and personal decision points in their lives. Buyers and sellers should be able to understand the likely costs, the legal process and what is expected of them from the beginning of their journey.
“Our partnership with PropertyPal came about from a desire to demystify the homebuying process for a broad audience in Northern Ireland, helping people feel informed and therefore prepared. We believe better industry collaboration throughout the process has a huge role to play in driving meaningful change across the market,” Christopher said.
Jordan Buchanan, Chief Executive Officer at PropertyPal, added: “Greater transparency benefits everyone involved in a transaction. Knowledgeable buyers and sellers make decisions with greater confidence, while agents and legal professionals can work with clearer expectations from the outset.
“The response of PropertyPal users to our work with Millar McCall Wylie has been phenomenal and shows that people value clear, practical guidance at an earlier stage of the homebuying journey. Whether they are reading advice articles, watching informative videos, exploring legal costs or simply trying to understand what comes next, buyers and sellers want to feel informed before they commit to a move,” said Jordan.
Both companies say the findings reinforce the need for earlier information, stronger communication and closer industry collaboration, so that homebuying in Northern Ireland becomes more efficient, better coordinated and more consumer focused.