Land Registry says new ‘game changer’ tech will speed up conveyancing

first_imgHome » News » Housing Market » Land Registry says new ‘game changer’ tech will speed up conveyancing previous nextHousing MarketLand Registry says new ‘game changer’ tech will speed up conveyancingBoth signing and witnessing of key conveyancing documents can now take place, in 80% of cases the same day, claims DocuSign.Nigel Lewis19th March 20212 Comments1,426 Views The latest step towards fully digitised and faster conveyancing has been taken following the launch of DocuSign’s new electronic ‘witnessed signatures system’.Revealed during a Zoom event yesterday both DocuSign and the Land Registry said it would ease one of the major bottlenecks in the conveyancing process, contract signing. This will also help prevent the kind of delays seen during the pre-Stamp Duty sales rush.“We believe this is a real game changer for the residential property sector and lawyer are getting really excited about this in a way tech doesn’t usually engage them,” said Katherine Crowley, Practice Development Manager at law firm Womble Bond Dickinson, which has been trying out the tech.She says that, because many of the documents in the property purchase process can be signed or witnessed on the same day and without having to do long-winded explanations about how it works, as previous tech required conveyancer to do, “it’s a win-win as far as we’re concerned,” she says.During the launch Crowley went on to say that by using e-signatures and virtual witnessing, her practice was able to turn around over 80% of documents within a day.“If we were still relying on paper, then it would be between two days and a week to get a signature back; the DocuSign system has speeded things up enormously.”She also said that it meant tracking the conveyancing process is now much easier with this system because everything is digital.“When people are on your back asking when they are going to complete, with ‘wet signatures’ you really didn’t know whereas now we can give an accurate answer by looking at the dashboard.”Doug Luftman from DocuSign, said: “Manual witnessing has always added an additional layer of complexity, often leading to protracted completion. This has been heightened by the pandemic, which is why property lawyers breathed a sigh of relief when the Land Registry announced changes in regulation that would allow the use of electronic witnessed signatures (WES).”Docusign Katherine Crowley Womble Bond Dickinson electronic signing Land Registry conveyancing March 19, 2021Nigel Lewis2 commentsAndrew Stanton, CEO Proptech-PR Real Estate Influencer & Journalist CEO Proptech-PR Real Estate Influencer & Journalist 19th March 2021 at 11:31 amI think that is the point Peter, it takes a year for solicitor’s and only a tiny amount of them to actually realise that despite the largest backlog of conveyancing work probably ever, utilising solutions like Docusign or YOTI is actually a no brainer. And is what the rest of business in the UK has been using it, maybe the big story is that solicitor’s who do not use – modern business techniques will have fewer clients – as their sleeker, more agile competion services the tech enabled clients who want a speedy service 24/7.Log in to ReplyPeter Ambrose, The Partnership The Partnership 19th March 2021 at 9:33 amUmmmm … forgive me but I know that 2020 is going to be called the “Lost Year”, but I’ve got a bit of a Rumplestiltskin moment coming on.This story is based on the Land Registry announcement in July last year!Slow news day guys? 😉PeterLog in to ReplyWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img

Leave a Reply

Your email address will not be published. Required fields are marked *