Posted on 29.5.15 by Matthew Owen
Moving house can be a stressful experience; especially if you are unfortunate enough to stumble across issues along the road that prolong the process of buying or selling your home. To combat issues that arise during the conveyancing process, a new electronic conveyancing portal, Veyo, has been released in a joint venture between the Law Society and IT services firm Mastek (UK) Ltd. This is set to make buying and selling property in England and Wales more efficient than ever for homeowners and first time buyers.
Law firms who have pre-ordered places, shortly followed by those who have registered interest, will be the first ones to implement the new system. It is expected that the majority of registered conveyancers and solicitors will be adopting this approach over the next few years. The creators believe it will make the conveyancing process much faster and more efficient for those purchasing homes in the UK.
Veyo works by electronically collating all of the processes, checks and documentation that are prepared and completed by solicitors and licensed conveyancers during the buying and selling of residential property.
According to the Law Society, this new portal will allow legal professionals to better communicate with each other, along with homeowners and other important stakeholders. It gives these professionals scope to carry out their obligations to a higher standard and perform the conveyance of residential property more efficiently through improved practices.
The chairman of Veyo, Desmond Hudson, said: ‘This initial go-live of Veyo marks the start of an exciting revolution in the conveyancing market. As an industry-first it’s crucial that we roll the product out strategically and our regional, targeted approach ensures that we can build a solid foundation in which the Veyo community can grow. The company is set to transform the whole market.’
If you are considering buying or selling a home, then Gorvins Solicitors can help inform you throughout the entire process. We have a fantastic and specialist team alongside a dedicated conveyancing section of our website filled with multiple useful resources to help guide you through some of the more complex aspects of conveyancing law, as well as providing you with practical information, such as our First Time Buyers’ Guide and a Stamp Duty Calculator, which you can find by clicking on the links.
To discuss buying or selling your property, you can contact the Gorvins team on 0161 930 5117 or e-mail email@example.com.