High-Street Solicitors firms are battling against the burgeoning competition of ‘cheap’ online legal service providers. Low cost ‘budget’ conveyancing… sings out cheap, cheap, cheap… But will this really fly? Rionne Preuveneers questions the E-asy way forward and looks at the potential pitfalls to avoid.

What can’t be bought online? Well these days, not much. If a business does not have an online presence it is in serious danger of falling behind it e-aware competitors. Furthermore the Internet infamously offers cheaper deals online, but some consumers do not ‘click’ that you often get what you pay for.

So how has this affected the age old legal profession? Today the legal services industry is ever-aware that the internet is the starting point of all negotiations – with Price being a key factor. E-conveyancing is the legal process of buying and selling property purely online. It uses ‘Case Tracking’ and email updates offering the client a ‘fast, efficient and straight-forward service’. Prospective clients can get a basic quote by entering the property price into a ‘Conveyancing Costs Calculator’, and some of the better sites send a more comprehensive breakdown of disbursements by email. Clients can then instruct a ‘Solicitor’ online or request a call back. Once approved, new clients receive a Log-In, enabling them to view all of the documentation relating to their matter online as well as the forthcoming, important dates. There is no need to see or even speak to a Solicitor as all communication is over email and documentation available online and all information can be completed online from simple questionnaires to electronic signatures & identity verification.

 The concept of ‘You get what you pay for’ is a factor to bear in mind. Unlike some online services i.e insurance services whose polices are standard, available in online conveyancing. When committing to the most expensive investment of your life, would it not be worth paying a little more to safe-guard the level of service you receive?

Most reputable firms charge from £500 depending on location and property price – therefore if a site is offering conveyancing for considerably less… you may want to consider the following:

• What are the other disbursements (are there any hidden extras)?
• Is this company qualified to deal with my conveyancing?
• Will I have a real-person to speak to who will be managing my matter?

The topic of disbursements is important to be clear on from the outset. Although the Law Society Code of Conduct states that professional organisations must be clear on fees; some online firms, do not include disbursements in their initial quoted fees. Disbursements such as telegraphic transfer fees, acting for the lender, completion of Stamp Duty Land Tax forms, local searches and office copy entries can be bumped up high to compensate for the initially low fee.

Unlike walking into an office it is not always easy to tell what kind of an organisation you are dealing with from a website. The Law Society’s accreditation, Lexcel, is a good standard to look out for. Independent assessors take the Lexcel Quality standard very seriously with strict processes and guidelines in place so you know that your matter will be properly taken care of by a qualified solicitor or conveyancer.

It is important to have a direct telephone contact with a case worker, as if you are unsure about proceeding or if anything does go wrong it will bring you peace of mind to speak to the person dealing directly with your matter.

Online conveyancing is an effective, easy way of managing your conveyancing transaction. As long as you use a creditable firm there are clear benefits. Rose Thomas, Deputy Area Manager at the Land Registry comments: “ There are clear benefits for all parties involved in the residential conveyancing process. Clients have the benefit of up to date, accurate information by logging onto the Chain Matrix. Electronic Funds Transfer will also bring about greater levels of efficiency to the completion process, reducing stress and uncertainty for all concerned.”

The Land Registry Direct, Land Register Online and a number of other electronic services have been available for a number of years. Land Registry Direct is now the clear method of preference for customers lodging standard types of pre-registration transactions and an increasing number of lenders are removing redeemed legal charges from the Land Register electronically.

Kelly Cirillo, Managing Partner of Smart Legal Move, a comprehensive online e-conveyancing site comments: “We believe that online conveyancing is the future for the legal services profession. Smart Legal Move offers an efficient transparent service which speeds the whole process up. We’re able to offer a nationwide service using our operational efficiencies and technology to provide a better service than ever before.

“Yes there are potential negatives which are implicit in any form of change; but the positives far outweigh the negatives. Issues of security, identity fraud, electronic signatures all pose potential risk but can be avoided by proper management procedures. The speed, certainty and reduced cost e-conveyancing offers is the way forward and can’t be ignored,” adds Mrs Cirillo.

Online conveyancing is successful, secure and easy. As long as the public are wise to the notion of ‘budget price… budget service’ then they can benefit from an improved and streamlined service – which may well be cheaper than the High-Street firm. The Professional bodies have the hardest job ensuring that all potential risks are accounted for before going ‘Live’ – but with the Land Registry already well on board the future looks E-xcellent.