In the UK property sector, a new initiative is creating momentum in legal transaction processing. Conveyancing specialist YouConvey is now providing estate agents and mortgage brokers with free property information packs. The offering aims to reduce existing bottlenecks in obtaining necessary upfront data.
According to YouConvey, the early provision of relevant property data has the potential to shorten completion times for residential property sales by up to five weeks. Protracted information gathering at the start of the sales process is traditionally regarded in the United Kingdom as one of the main causes of delays and failed transactions.
Efficiency gains through upfront information
The new model specifically targets the phase prior to formal contract drafting. By preparing reliable data before detailed legal review begins, the parties involved can make informed decisions before incurring costs for in-depth surveys or legal advice. This creates greater transparency between sellers, buyers, and lending institutions from the outset.
- —Complete waiver of ongoing subscription fees
- —Access to essential upfront data for estate agents and mortgage brokers
- —No obligation to use YouConvey's legal services
- —Reduction of overall transaction times by up to five weeks
A notable feature of the initiative is its commercial structure. YouConvey completely waives recurring subscription fees for the use of the data packs. Furthermore, participating agents and their clients are under no contractual obligation to subsequently instruct YouConvey to carry out the actual conveyancing.
Market transparency without tie-in obligations
With this open structure, the model differs from many conventional industry solutions, which are frequently tied to fixed service bundles or exclusive partnerships. By lowering barriers to data access, upfront property checks are intended to become standard practice. This benefits both estate agents and mortgage intermediaries, who can bring transactions to completion more swiftly and with greater reliability.
