These unprecedented times have seen further pressure on the conveyancing market – with high housing transaction volumes and new remote working practices – now, more than ever is the need to reduce transaction times.
With the Stamp Duty Holiday deadline fast approaching and significantly high number of buyers wanting to take advantage of the holiday has caused delays within the buying sector. Convey Choice, a leading digital provider of expert conveyancing services and CLS Data, part of the CLS group partners up to introduce ConveySafe – A new and unique report that aggregates and compiles lender specific and required property related information available at the very point of instruction for legal advisors helping reduce the conveyancing transaction process.
The extensive data not only includes title matters and lenders requirements (Part 1 and Part 2 UK Finance), but also property, site and hazard information which could affect the lender’s assessment of the property. The report includes an official copy of register of title and title plan from HM Land Registry and copy lease (where available for leasehold properties only); thereby reducing the time needed for the collation of documentation during the conveyancing process.
In addition to the above, the report examines and interrogates the title to the property, highlights key issues that may require urgent remediation and identifies elements for which insurance is available to enable the transaction to proceed in a timely manner. For peace of mind, legal advisers can also rest assured that the report has referenced both Part 1 and 2 of the UK Finance mortgage lenders’ handbooks.
‘With so many lenders with extensive and varied lending rules and requirements ConveySafe brings all the information a conveyancer needs into a single, thorough and time saving report ’ says Renu Kiran, Convey Choice MD adding ‘that’s why Convey Choice will automatically provide a Conveysafe report, as well as a complimentary AML check for every single instruction placed through our online portal.’