Electronic conveyancing portal Veyo will today begin its rollout across England and Wales, the project, a joint venture between the Law Society and IT services firm Mastek (UK) Ltd, has announced.
The first users will be firms that have already placed orders, followed by firms that have registered interest.
Veyo brings together electronically all the processes, checks and documentation prepared and undertaken by solicitors and licensed conveyancers in the sale and purchase of residential properties.
It allows professionals in a trusted community of users to better communicate with each other, home movers and other key stakeholders, to satisfy obligations more efficiently and to facilitate the conveyance of residential property through established practice protocols.
Desmond Hudson, chairman of Veyo (pictured), said: 'This initial go-live of Veyo marks the start of an exciting revolution in the conveyancing market. As an industry-first it’s crucial that we roll the product out strategically and our regional, targeted approach ensures that we can build a solid foundation in which the Veyo community can grow.
'The company is set to transform the whole market.'
Conveyancers will be able to conduct residential conveyancing work through the portal for £20 per transaction, plus an administration charge of £50 per user per year.
Firms with existing case management systems will, subject to the collaboration of their provider, be able to integrate their existing system into the required elements of Veyo’s services.
For firms that have no such system in place, Veyo provides fully functioning case management tailored for residential conveyancing work