Housing Solicitors

The chief executive of a new residential conveyancing website has announced that the site – due to launch in spring 2015 – will be called “Veyo”.

The Law Society is backing the website and Veyo will be a “market changing” product, which will handle the conveyancing process from the point a conveyancing firm is instructed to post-completion.

Online conveyancing services have revolutionised the conveyancing process, making it cheaper and quicker.

Most documents are now stored electronically, meaning that disbursement costs such as faxes, phone calls, postage and photocopying can be kept low.

Veyo will be marketed as the home of conveyancing and the Law Society Gazette reports that conveyancing solicitors and licensed conveyancers will be able to share information and documents with home buyers – as well as the Land Registry, mortgage lenders, estate agents and eventually HM Revenue & Customs. Any firm licensed to offer conveyancing services will be able to use the website.

An app will be launched along with the Veyo website to enable home buyers to track the progress of their conveyancing.

Chief executive of Veyo, Elliott Vigar, said that – although the website would be integrated with the Land Registry from “day one” – integration with HMRC for the purposes of paying Stamp Duty would be phased in later.

Vigar said that a “significant number “ of conveyancing firms had expressed interest in the venture – Veyo has been designed with the Law Society’s conveyancing protocol “hardwired” into it, he said.

“We can’t create a system that is exactly the same as every one in use today – but we can create one that is familiar to practitioners,” said Vigar.

“They will see a process that they recognise and are comfortable with.”

Veyo will include a case management system and will also offer integration with other management systems. A licence fee and a transaction fee will be charged for using Veyo, but fees have not yet been decided.

Online conveyancing has sparked fierce competition between conveyancing companies – with some firms offering online conveyancing for as little as £99 or £199.

However, the Solicitor’s Regulations Authority has been informed of some cases of bogus conveyancers, often involving firms offering cheap conveyancing and not delivering the service – or adding extra fees to an initial charge.

Consumers are advised to check the small print of any conveyancing offer – and obtain a quote for any extra work that might be needed before accepting an offer.

It is always best to settle on a set fee for any extra conveyancing services needed, rather than an hourly rate – and make sure that the cost of disbursements is clearly set out before agreeing to any conveyancing offer.

Also make sure that your online conveyancing firm has a UK address and is not based in a call centre or office outside UK jurisdiction.

Duncan Lewis Housing Solicitors

Duncan Lewis is a leading firm of housing solicitors and can offer home buyers efficient and competitively priced conveyancing services.

Duncan Lewis is also one of the UK leading Legal Aid solicitors and can advise homeowners on issues such as debt management and mortgage repossession.

For expert legal advice on housing law, contact Duncan Lewis housing solicitors on 020 7923 4020.