Homebuyers want more digital documentation

Published on

81% of homebuyers across the country want a wider adoption of digital documentation tools to speed up the process, according to new research by DocuSign.

The firm commissioned a survey of 1,000 UK homebuyers, 150 estate agents and 150 solicitors to explore how the end of the stamp duty holiday was impacting UK homebuyers and property professionals.

84% want to sign legal documents electronically, 76% want entirely electronic contracts, 60% want online payments and 51% said there should be an option to have electronic witnessing.

Matt Gibbons, regional vice president, EMEA commercial sales at DocuSign, said: “The evidence is overwhelming – UK house buyers are frustrated by the widespread reliance on slow, manual processes.

“Lockdowns and social distancing have encouraged many businesses to adopt dynamic digital tools but property buying remains dependent on traditional methods.”

83% of estate agents offer some form of electronic documentation service, and 81% use it for non-client facing processes as well. However, 51% of solicitors only accept documents that have been signed manually with pen and paper.

Gibbons added: “Solicitors and estate agents should be taking full advantage of digital documentation solutions. The research shows 78% of UK homebuyers who have used digital documentation solutions said it made the buying process smoother.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

SortRefer posts record-breaking July as broker demand surges

SortRefer, the Derby-based conveyancing and legal services platform, has reported its strongest month on...

Mortgage lenders under fire as rates lag behind interest rate cuts

Mortgage holders are paying over £1,000 a year more than they should be according...

Average English homebuyer to gain £41k in borrowing power

Homebuyers across England are set to benefit from a substantial increase in purchasing power,...

Somo revives summer offer with valuation discounts and free beer for brokers

Specialist lender Somo has announced the return of its August promotion, offering 90% off...

Property and finance sectors dominate shortlist for 2025 Social Mobility Awards

Firms from the property and financial services sectors have secured a prominent place on...

Latest publication

Latest opinions

Take off the rose-tinted glasses and stop chasing a rate cut

Every six weeks the financial world raises its eyebrows at the prospect of a...

Job cuts to inflation shock: preparing for a mortgage arrears crisis

The latest data on jobs paints a picture of a rapidly weakening labour market. The...

URGENT! AI Is coming for you. Or maybe not…

I’ll try to make this as straight to the point as I can. The...

Mind the gap: Can mortgage advice change the game for protection?

Many industry insiders still talk about the UK protection gap and how vast it...

Other news

SortRefer posts record-breaking July as broker demand surges

SortRefer, the Derby-based conveyancing and legal services platform, has reported its strongest month on...

Mortgage lenders under fire as rates lag behind interest rate cuts

Mortgage holders are paying over £1,000 a year more than they should be according...

Average English homebuyer to gain £41k in borrowing power

Homebuyers across England are set to benefit from a substantial increase in purchasing power,...