UK mortgage and property professionals have been urged to rethink the homebuying process after Russell Quirk criticised the UK’s transaction system as “completely, utterly broken” in the latest episode of No Filter with Rob Jupp.
The podcast, hosted by Brightstar Group CEO Rob Jupp (main picture), begins with a focus on the structural inefficiencies in the housing market, with Quirk arguing that delays, fall-throughs and lack of control continue to undermine confidence across the buying journey.
With transactions typically taking months to complete and a significant proportion collapsing before exchange, the discussion highlights ongoing friction that directly impacts mortgage pipelines and borrower certainty.
FRAGMENTED SYSTEM
Quirk points to the disconnect between different parts of the transaction process, suggesting that issues often arise late due to fragmented systems and poor coordination between parties.
“I’ve done an array of things to find my way in life but I’ve always gravitated back to property,” he said, referencing a career spanning estate agency, technology and investment.
However, he was clear that the problem lies deeper than individual firms.
“The mechanism behind how properties are conveyed… is completely, utterly broken,” he said, citing the frequency of deals falling through late in the process.
He added: “I don’t think UK estate agency is very good. I don’t think it’s very efficient. It’s certainly not admired as a profession by the public.”
The comments come at a time when lenders and brokers are increasingly focused on improving customer journeys, reducing fall-through rates and accelerating completions through greater use of technology and data sharing.
The episode is streaming now on all major platforms including Youtube, Spotify, Apple Podcasts and Amazon Music.
