With the Land Registry set to launch its e-conveyancing solution in early 2008, the CML urged intermediaries and other firms involved in the mortgage industry to gear up for their imminent arrival.
Richard Sexton, business development manager at e.surv, said: “This is more for the providers of legal services to become acquainted with rather than intermediaries. But I think it is good the CML is trying to make sure brokers are aware of it. Although it won’t be directed at them, it is useful that they are aware of it with regards to the people their customers use for conveyancing. E-conveyancing will allow this aspect of the buying process to catch up with other elements of the process, such as automated valuation models.”
Justin Wiggins, IFA at Helinton Financial Services, said: “Most brokers need to know more about e-conveyancing before preparing for it, and it will be interesting to see the impact it has on charges once it arrives. The biggest impact on the market in the past three years has been online applications. If e-conveyancing has a similar impact, I imagine once the offer has been issued the sales process will speed up a reasonable amount.”
