Digital technology making fast conveyancing possible. The entire process can be handled remotely by email and over the phone. The aim is to mitigate risk to the Consumer by getting to exchange of contracts faster.
The government has taken the digitisation of conveyancing seriously and is already looking at reservation agreements and a smaller size Hips package that will be required on all selling properties.
What is digital conveyancing?
The aim is to be able to buy or sell a home without needing to submit paper documents allowing the transfer of ownership of a property to take place using the internet using secure e-signatures. Trials are underway.
The obvious question is how secure is it. The process must be tested many times to remove all possible security flaws.
Which is why only a few lenders and Solicitors are involved with the test.
In the meantime of course you can speed up your own conveyancing choices by instructing a Solicitor when you place your property on the market and latest before offer acceptance stage.
The process currently on instruction is for a Solicitor to send out terms of agreement which must be signed and returned before the conveyance can start. Even then the first task is to carry out ID checks.
Get moving today using a solicitor that is Lender approved and is a member of the Homebuyer Conveyancing Panel.
