How likely is it that your property transaction will fall-through?

UPDATE: The calculations used in this article have been updated and can be found in our more recent article on property transactions.

It is probably more likely than you think but your choice of conveyancer can make all the difference.

Give yourself the best chance of a successful completion on your home purchase or sale by working in partnership with Holmes & Hills' residential property team. Benefit from our 85% successful completion rate for property transactions, which is 18% higher than the national average.*

What number of property transactions fall-through?

Rightmove and other property industry commentators report that, on average across the country, approximately 28% of property transactions fall-through**. It is a much higher percentage than most buyers and sellers expect it to be. This means, subject to your choice of law firm, your transaction faces almost a 1 in 3 chance of falling through.

Reduce the risk of your transaction falling-through by benefiting from a 18% higher rate of success

Those using Holmes & Hills' conveyancing services benefit from a materially higher successful completion rate compared to the national average. Your transaction has an increased chance of successfully completing when Holmes & Hills is advising and representing you in your property transaction.

Why do property transactions fall-through?

Your transaction might fall-through for a number of reasons, most of them outside of your control. These include: your buyer finding another property; being unable to secure their mortgage; or a change in their circumstances which means they can no longer proceed with the purchase. Surprisingly, gazumping is still the most common reason for a transaction to fall-through and it has been recently reported in the last year (June 2020 to June 2021) that gazumping is to blame for 38% of failed transactions.***

Benefit from fixed fee packages

As well as an increased chance of your transaction successfully completing, Holmes & Hills provides fixed-fee conveyancing quotes with no hidden charges. When you obtain conveyancing quotations from other law firms you may find charges for completing Stamp Duty Land Tax forms, dealing with lenders and leasehold fees. With Holmes & Hills, these items are included within our legal fee. We give you a simple, transparent, fixed-fee quotation.

Solving problems through a proactive and pragmatic approach

Holmes & Hills has a large team of experienced property lawyers who are supported by Planning Law, property litigation, agricultural and commercial specialists, meaning we resolve problems when they arise and keep transactions on track, securing a successful completion.

Partner with Holmes & Hills to secure your transaction

By working in partnership with our clients, local estate agents, mortgage brokers, and financial advisors, Holmes & Hills' residential property lawyers will ensure a smooth transaction, whilst protecting your legal interests. In the last 12 months, Holmes & Hills have helped over 3,500 people move home and we are ready to help you.

*Holmes & Hills' successful completion rate is calculated using sample data for 541 residential property transactions started between October 2020 to December 2020 and is compared to national average successful completion rate of 72%

**Rightmove / ITV - Jan / Feb 2021

***Comparethemarket - June 2021