e4 Strategic UK, a proptech digital solutions provider, has joined the Project 28 Charter, supporting the industry-wide drive to create more certain property transactions.
Project 28 brings together lenders, conveyancers, estate agents and technology providers around an ambition to reduce the time between sale agreed and exchange to 28 days.
The Charter sets out eight practical commitments aimed at tackling delays and improving the way information moves between parties. These include earlier instruction of seller-side conveyancers, greater provision of upfront property information, better access to trusted digital data, and the secure sharing of key documents.
Andrew Vaughan, head of customer management at e4 Strategic, commented, “The 28-day target is ambitious, but that is exactly why it is useful. If we start from the assumption that transactions will always take three or four months, we risk designing improvements around the current process rather than questioning why it takes that long in the first place.”
He also added, “One of the lessons from working closely with lenders and conveyancers is that delays rarely come down to one major problem. It is often the accumulation of smaller issues such as information being requested more than once, a query sitting unanswered, an update being missed or one party not knowing that another is waiting for them.
Join our community of 200,000+ real estate leaders and get weekly insights and updates with our newsletter.
*Offer ends on Friday, 7th February.
