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A great leap forward

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22 November 2007 / Matt Le Breton
Issue: 7298 / Categories: Features , Property
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Matt Le Breton puts the case for online transactions

In the UK we have a conveyancing process that is well established and trusted. Its major strengths are that it has respected processes and procedures and a practice of pre-contract searches which highlight issues at an early stage and subsequently any identified risks can cost effectively be insured. However, the introduction of new legislation—most recently the fumbled launch of home information packs (HIPs)—means that the burden on the conveyancer has been increased to meet market demands.

There is a constant pressure on individuals and companies alike to find ways to save time and money. The introduction of online services into conveyancing workflows goes a long way to meeting these needs, which can only be an advantage in this modern world where increasing the margins on transactions requires time-saving procedures and greater efficiency generally.

GOVERNMENT BACKS E-CONVEYANCING

The government has been backing the move to make the conveyancing process an online procedure and has stated that it wants to “improve the national systems of

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