Ridley & Hall Leads the Way in e-Conveyancing
In an age of ever increasing use of modern technology, solicitors firms can sometimes be seen as lagging behind other professions in making use of modern technology. However, at Ridley & Hall we are always looking at ways to make better use of technology for the benefit of our clients.
Land Registry, as part of the governments’ digital strategy have been one of the departments who have made considerable efforts to streamline their workflow by offering services to customers online, through a Portal.
The latest development from Land Registry is the electronic Document Registration Service, or e-DRS. This allows conveyancers to submit applications online through a portal, with the results being sent back electronically.
Currently, whenever we act for a purchaser, an application must be submitted to Land Registry following completion to register you as the new owners of the property. Traditionally, these were paper applications which were sent to Land Registry through the post; Land Registry processed the application and sent an updated copy of the register back to us through the post. In Autumn last year, Ridley & Hall trialled the electronic application process internally, with huge success.
The electronic application process allows us to submit applications much safer, with no risk of original documents being lost in the post. The application is received by Land Registry on the same day and processed much quicker. We have found that completed applications are being sent back to us within 24-48 hours.
As an incentive for all firms to move onto electronic applications, from the 17th March 2014, Land Registry are introducing a new fee structure with reduced costs for applications submitted electronically. Currently, all applications attract a fee which depends on the value of the transfer (ie. the price you paid for your property.) Effectively, the new fee structure provides a 50% reduction in the application costs if submitted electronically. This is a saving we can pass on to you directly as our client.
In addition to electronic applications saving our clients money, there is also a positive impact environmentally because we no longer need to photocopy documents; we simply scan them and upload them to Land Registry portal.
To find out more information regarding our conveyancing services, please contact Ridley & Hall on 01484 538421 or fill out our feedback request form online and we will contact you.