The Law Society-supported online conveyancing portal, Veyo, began its working life across England and Wales on May 26, with seven unnamed law firms trialling the system.
The online conveyancing tool, a joint project between the Law Society and an IT firm called Mastek, aims to simplify the conveyancing process by centralising checks, processes and documentation into a single system.
It was only around two to three months ago that nearly half of all conveyancing firms in England and Wales expressed interest in the project, with both large firms of residential conveyancing solicitors and sole practitioners expressing interest.
The tool certainly has influential backers, with its chairman, Des Hudson, a former chief executive of the Law Society.
“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,” said Hudson.
However, use of the portal will come at a cost: £20 for residential conveyancing work, plus a £50 a year administrative charge. The portal comes four years after the Land Registry abandoned plans to develop a similar portal.
“Increasingly, consumers will not put up with a service from the conveyancers that doesn’t reflect the way they operate in the rest of their lives, whether that’s buying their groceries or booking their summer holiday,” said Hudson.
For advice and information in relation to property transactions and your rights, contact the residential conveyancing solicitors at Healys LLP today or, click here for more information.