The future of conveyancing has arrived
Dominic Cullis, MD of Easy Convey, discusses the need for
There is no longer any debate
about the implementation of e-conveyancing; it is going to happen, it needs to
happen, and it needs to be implemented now! Practically speaking, in order to
change any working practice, firms will need to invest a significant amount of
time to implement new procedures, but any teething problems can be alleviated
if e-conveyancing solutions are implemented in preparation, rather than in
response to this changing market.
The importance that electronic
data transfer plays in the Home Information pack (HIP) scheme cannot be
understated, especially when you consider the time-critical nature of HIPs, and
the related changes to the home buying process. For maximum efficiency, any
e-conveyancing software that a law firm considers should ideally interface with
the Land Registry's system, so that a step completed in the workflow of the law
firm’s case management software would automatically update the Land Registry’s
chain matrix. This approach would save
the firm a great deal of time and data entry – another key aspect of
e-conveyancing – as all data should initially be keyed once by the agent, and
then used wherever required.
The ideal solution would be to
have elements of the software installed and operated from the firm’s offices.
This model will maintain a higher degree of confidentiality and security over
web-based alternatives, and a much faster speed of communication. Only certain
information is required outside of the law firm, and this data can be accessed
though an online case tracking service and seamless integration with
complementary related services provided by the other property professionals.
With the impending move to
e-conveyancing, many software manufacturers are developing conveyancing strands
to their existing programmes, but these solutions may not provide all of the
necessary elements that an efficient e-conveyancing programme needs. The following
is a broad checklist to follow when considering an e-conveyancing solution
provider. The service needs to:
·
Automatically
produce an accurate fee estimate within seconds
·
Have
complete integration with all service providers that make up e-conveyancing (NLIS,
HM Revenue & Customs, Home Inspector, Estate Agent, Lender, Client)
·
Have
letter, document and form creation using information from the database
·
Be
able to merge database information where appropriate on the official forms
·
Have
a suite of letters, forms and documents that can be easily tailored
·
Be
able to edit letters, documents and workflows to mirror current style of
practice
·
Have
the ability for e-submission of SDLT to HM Revenue & Customs
·
Have
the ability to send SMS text messages from the Matter
·
Be
able to integrate email with Microsoft Outlook and Exchange
The fundamental message in the
case of e-conveyancing is that law firms need to implement the solution now,
and build relationships with all parties involved within the house-buying and
selling process. The future for this industry only points
to more developments in technology and a greater emphasis being placed on
communication, which means that