Do First Time Buyers Understand the Conveyancing Process?

In this Conveyancing Matters chat, Lorraine and Stu talk about some interesting research that has recently been issued by Lloyds. The headline coming from it is that only 13% of first time buyers 'fully understand' the conveyancing process. 

But is the real number likely to be even this high? 

Stu and Lorraine suggest that our regulators should be doing more to support conveyancing clients and the lawyers that they regulate to help the public understand the importance of what we do. 

What is your experience? How well do your clients understand the conveyancing process?