E-mortgage deeds set to transform conveyancing
23 March 2010
Connells-owned property lawyers Conveyancing Direct has become the first law firm to send an electronic mortgage deed through HM Land Registry’s ‘Business Gateway’.
The new service, which enables conveyancing firms to generate deeds automatically, will enhance the speed and efficiency in which mortgage deeds are delivered, as well as fulfilling the expectations of many customers who prefer to handle transactions online.
Conveyancing Direct became the first organisation to deliver the new e-mortgage deed following several months work to integrate its own systems with Land Registry’s case management system. Marcus Sullivan, Project Manager, Conveyancing Direct says: “This innovation will shave days off mortgages and re-mortgages, and in turn the entire home buying process, as there is no requirement for a physical deed to be created and then posted between client and conveyancer.
“Electronic deeds are generated automatically with data pulled directly from our case management system and automatically mapped to various fields in the deed, allowing us to offer an extremely efficient, fast service for lenders and customers,” Marcus explains. “This new service is clearly the way forward for conveyancing, especially in a world where the provision of and demand for online services is becoming the norm.”
The new electronic mortgage deed, or electronic charge in standard form (e-CSF), also offers greater flexibility for those who, for whatever reason, cannot be physically present to receive, sign and return the mortgage deed. “An e-mortgage takes away the need to be physically present to receive the mortgage deed,” Marcus continues. “So if for whatever reason you are abroad at the time the deed is ready for signature, you can log-in and digitally sign it without even being in the same country.”
Conveyancing Direct worked with software vendor FWBS to ensure it was fully integrated with Land Registry’s case management system to deliver the new service.
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Notes to editors
About Conveyancing Direct
Connells acquired Conveyancing Direct in 2002. It works alongside Connells conveyancing panel to provide a dedicated, stress-free home conveyancing service which operates on a fixed fee basis seven days a week.
About the Connells Group:
Founded in 1936, the Connells Group, a subsidiary of the Skipton Building Society, comprises 470 estate agency branches and is the second largest wholly owned estate agency network in the UK. In addition to operating under the Connells brand, which comprises around 150 branches, the Group trades under other well-known local names including William H Brown, Sharman Quinney, Fox & Sons and Barnard Marcus.
As well as residential property sales the Group is involved in a comprehensive range of housing related activities including land and new homes, lettings, surveying, mortgages, conveyancing, relocations, asset management and auctions.
The Connells Group has been named Best Large Estate Agency at the Estate Agency of the Year awards for four of the past six years. For more information, please visit www.connells.co.uk
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