Law Society launches TA6 Part 1 pilot
A new pilot from the Law Society will encourage the production of key information for home buyers and sellers at a much earlier stage in the home moving process.
it is being run by the Law Society, working with its conveyancing and land law committee, InfoTrack and Perfect Portal.
Through InfoTrack’s software home movers will be asked a series of questions which will inform the production of a shortened version of the current TA6, designed to enable estate agents to inform potential buyers at a much earlier stage in the process about some of the crucial information that could influence any purchasing decision.
Jane Pritchard, Chief Product Innovation Officer at InfoTrack explains:
“We know that certain questions are more relevant to buyers at the point of offer and the Part 1 is designed to answer these. The purpose of the pilot is to understand whether the current question set is right and bring the agent and solicitor closer to the transaction at the marketing stage.
“The data is collected in such a way that where it’s relevant to do so, the information is also inserted into the TA10 and supplements the solicitors onboarding pack, so the consumer isn’t endlessly re-entering the same information.
“This data ecosystem then enables all parties within the transaction to view progress and prompt completion of the full TA6 to enable the production of a contract pack.”
Andrew Moroney, Commercial Proposition Manager at The Law Society adds:
“The Law Society are aligned with the industry on the utility of up front information in a digital environment.
“Our choice to work with InfoTrack ensures that this pilot is an extension of the familiar framework of the TA6. Ultimately at the conclusion of the pilot the intention is to make the TA6 Part 1 widely available from our licensed suppliers.
“In the short term we want to prove it works.
“We see no conflict here with BASPI; this is about providing choice to our members.”
I. Stephanie Boyce, the Law Society of England and Wales President, said the project will help consumers, estate agents and solicitors ‘seamlessly collect key marketing information using the familiar, but wholly digitized, TA6 workflow.’
The pilot comes following announcements from The Home Buying & Selling Group and Gazeal and their efforts to establish key information up front.
And at a time when the industry continues to share its frustrations with delays around searches, lenders, enquiries etc, is earlier information the right issue to be tackling or is it a red herring?
Please share your thoughts below