Software supplier, Law Firm Services Ltd (LFS), has launched a new initiative in conjunction with estate agency group Ryder & Dutton, who have 24 branches across the North of England.
The aim is to speed up the conveyancing process by starting the work at the time a property goes on the market, so that the process of obtaining searches and documentation begins immediately
Conveyancers are instructed when properties are placed on the market using the LFS Minerva technology platform.
Clients can digitally instruct their law firm using facial recognition ID and easy to complete online forms, in a secure environment.
The solution is already producing results, with some clients able to complete the process in less than an hour, significantly improving a process that often takes up to 3 weeks.
The scheme includes the law firms of Birchall Blackburn, Russell & Russell, Garratts, Ramsdens and Schofield Sweeney.
Richard Mathias, Sales Director at LFS explained:
“After 18 months of planning and development, it is fantastic to see that we are really walking the walk not just talking about it.
“Minerva is the catalyst for a whole new conveyancing experience. The agent sends instructions to the firm when the house goes on the market, the client can immediately create a portal account, complete protocol forms and undertake facial recognition ID, all from the comfort of their own homes.
“The process is taking less than 24 hours in the vast majority of cases.
“In addition, lawyers are then doing title checks and ordering searches. These have been secured on a “no sale no fee basis” so there is zero cost to the seller. Buyers are reimbursing the cost of searches on completion just as they do at a property auction.”
Richard Powell, Managing Director of Ryder & Dutton and member of the Home Buying and Selling Group (HBSG) said:
“The idea of collating information up front has been around since the days of HIPS and there has been a lot of talk recently of how this can be achieved. With the help of LFS and our fantastic panel of law firms we have made this a reality. Our clients love the system and we are already beginning to see the benefits with significantly reduced transaction times”