E-Homebuying Forum welcomes historic e-Conveyancing first

E-Homebuying Forum welcomes historic e-Conveyancing first

Posted: 16 February 2010 | Provided by: FWBS Ltd | Browse more news

The E-Homebuying Forum today welcomes what is a historic day for e-Conveyancing. Conveyancing Direct celebrated being the first law firm in the country to successfully submit a live electronic mortgage deed directly from the case management system provided by FWBS Ltd, using the Land Registry's new Business Gateway. The Skipton Building Society re-mortgage was completed on 5th February 2010.

Mark Riddick, Chairman of the E-Homebuying Forum comments:

“This represents what could be the start of a revolution, with the potential to transform conveyancing practice in the UK. The E-Homebuying Forum has been leading calls for the implementation of e-conveyancing which will enable faster transactions and greater efficiency and we are delighted at this historic moment.

He added, "Conveyancing Direct said that this has been one of their fastest transactions to date so I am very enthusiastic about the wider impact e-conveyancing can have on the homebuying and selling process."

Paul Fenn, General Manager, Lending, from Skipton Building Society said:

"This is a huge step forward in the use of electronic information exchanges, one to which we are very proud to have been a party. In the future, it means that we’ll be able to take days off a process that currently relies on a paper based system."

Mark Craddock, Sales Director at software vendor FWBS Ltd stated:

"FWBS have been working with HM Land Registry to extend our Matter Centre solution to support the direct mortgage deed transaction from within our case management process. This development has streamlined the re-mortgage transaction, brining further efficiencies to legal professionals. It is a truly exciting development with very positive implications for the future of the property sector, and being the first to deliver builds on the continued leading legal innovation by FWBS."

The E-Homebuying Forum set out e-Conveyancing as one of the key areas in the Blueprint, launched in April 2008. The Blueprint was created to set out a platform for improving the property transaction process acting as a strategic high level call to action for Government and Industry. It positions widespread use of electronic information exchanges is a key part of working towards faster certainty as it will remove significant time delays.

Providers website: FWBS Ltd
Date: 16 February 2010
Listed in: Technology
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