I find this statement to be absolute rubbish. As both a mortgage intermediary and an estate agent I can assure these so-called providers that the main reason why property sales break down is generally because the legal formalities take too long. There is no earthly reason why a property sale cannot be exchanged and completed within six weeks.
One of the problems with conveyancing is that it is the cheap end of a solicitors day-to-day business, and the only way to make it pay is by volume and this can create its own problems.
Perhaps if conveyancers spoke to each other more often a lot of the problems could be sorted out without the need for letters going back and forth.
As an estate agent, I can say quite categorically that solicitors quite frequently lie to us and indeed their own clients. After a time you know who they are and try to steer your clients to other and more reliable firms.
I frankly find it difficult to believe that HIPs providers still think they have a future or presume their systems will speed up the house buying process.
James
Via e-mail
