Start Up Offers Guaranteed Conveyancing Process To Completion Within 40 Days
A conveyancing start up, offering a premium conveyancing service, will repay the cost of all fees if they are unable to complete the conveyancing process, to completion, within 40 days.
Conveyancing firm, Muve, created by David Jabbari, Dan Watkins and Claus Werner have introduced MuveFast to the market. For the price of £1,199 plus VAT, the premium service promises to achieve the exchange of contracts between 25 and 40 days.
In a bid to create a more holistic and joined up approach to the sales and completion process, Muve are also offering estate agents a fee-share partnership programme. The company claim that working in a more collaborative way with estate agents will reduce the customer journey, create quicker transaction times and ultimately reduce costs for all involved.
For many, the conveyancing process has been blamed for slowing transaction timescales. 30% of people surveyed, by When You Move, claimed that their property completions were delayed by an average of 6.4 weeks because their conveyancers were out of the office. Around a third were aggrieved that they were forced to speed up the process by contacting their conveyancers for regular updates and forcing deadlines to be met.
According to complaints information from the Legal Ombudsman (LeO), for 2018, a reoccurring theme of misinformation and poor communication have blighted the conveyancing sector. Over 1,560 complaints were made to the LeO last year. 600 complaints related to costs issues, 36% were annoyed by a lack of communication and over 20% were angered by persistent and unexpected delays.
When the process of buying and selling a home can be perceived as slow in an age of instant gratification, could the promise of a 25-day conveyancing process all the way through to completion entice consumers into paying for a premium service?
David Jabbari , co-founder of Muve, commented:
“Customers want speed and transparency above all else,” says Jabbari (left), who helped found online law firm Connect2Law.
“The legal process is too often seen as a ‘black hole’ that gets in the way of a customer’s dream house or getting hold of much needed funds. Our mission is to transform the value that law brings to the home moving process.”
Do you think consumers will be enthused to pay for a premium service? Or, in such a price sensitive sector, will the cost deter buyers?