Law Soc plans conveyancing portal launch
The Law Society is set to launch a Conveyancing Portal, it has announced.
The joint venture with leading global IT solutions company Mastek UK Limited will deliver an online service that aims to help solicitors and licensed conveyancers save money and speed up the house buying process for consumers.
Law Society deputy vice president, Jonathan Smithers, said: "The system will allow professionals to better communicate with each other, clients and other parties, satisfy due diligence obligations more quickly and at lower cost and facilitate the conveyance of residential property through established protocols.
"This project has the potential to transform the way conveyancing works, so it was imperative that we found a partner with a strong track record in delivering secure, reliable IT projects for high profile clients.”
The Law Society says the portal will provide a simple tool to help the house-buying process and allow smaller firms to use technologically advanced platforms usually only available to larger firms.
It added that the online platform will enable solictors to maintain the highest standards, strengthening risk management and compliance and so reducing fraud, which has seen a rise in recent months.
The Law Society and Mastek have set up a joint venture company called Legal Practice Technologies Ltd, which will launch its testing programme later this year and be seeking participants to test usability of the services prior to full launch.