New system, Veyo, provides welcome transparency up and down the chain in conveyancing

The Law Society has fully endorsed a new offering for an online residential property portal which will be launched in 2015.

Stone King has early adopter status with the creator of this portal - Veyo. Consultation on functionality of the portal will be taking place between Veyo, the Law Society and Stone King in the first quarter of 2015.

The portal will have a dedicated secure page for solicitors to load documents, add keys dates and deadlines, and add notes for their own confidential reference. There will also be client pages where we can provide instant updates for your reference.

Less restricted pages, accessible by other solicitors in the chain, will permit information and document sharing. On these pages, solicitors will upload contract and transfer documents instantly without the need to send by post or email. This will have the hugely beneficial effect of time saving.

A “chain view” page will allow solicitors throughout the chain to add notes confirming the stage reached in each transaction.

This avoids the unnecessary stress buyers and sellers are all too often familiar with, when locked into a long chain of property transactions, and information is not being shared.

Only accredited, vetted property law specialists will be approved to use this portal. This cuts out the risk of bogus firms being involved and the nightmare situations that have arisen in the past from property fraud offences.

We will support any means of providing greater transparency and information sharing to our clients which is at the core of the client-driven service at Stone King.

Stone King will send further updates on the portal and confirm to clients log in details once it is up and running.

The law and practice referred to in this article or webinar has been paraphrased or summarised. It might not be up-to-date with changes in the law and we do not guarantee the accuracy of any information provided at the time of reading. It should not be construed or relied upon as legal advice in relation to a specific set of circumstances.

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