Introducing Veyo

by Clare Butcher

A new conveyancing resource, Veyo, is scheduled to go live next month. The web portal-based case management system is intended, we are told, to afford the opportunity for everyone involved in a conveyancing chain to view the status of the transactions in the chain.

Billed by its providers as an efficient, secure and transparent way of managing conveyancing, Veyo is a joint venture between the Law Society and Indian software services business Mastek.

The purpose of Veyo is stated to be the bringing together all of the processes, checks and documentation prepared and undertaken by solicitors and licensed conveyancers in the sale and purchase of residential properties in England and Wales.

The intention is that in doing so, it will speed up the house buying process for sellers and buyers and afford greater transparency for all stakeholders in the chain.

Demonstrations of the product as currently developed have shown that users will be presented with a dashboard showing active cases and their respective status. Each case will have a dedicated screen showing an overview of progress towards completion. A calendar will show scheduled tasks, key dates and reminders.

Other pages will, we are told, offer complete visibility of the sales chain, by providing users with an overview of all their transactions, messages and activities to help keep cases on track. By offering transparency at every stage of the conveyancing process, all parties should have access to up to the minute information on a transaction.

Importantly, Veyo users can also verify individuals working on the other side of the transactions who must have pre-qualified to be able to use the portal. It will also be possible to carry out anti-money laundering checks and checks on bogus firms of lawyers. This is important at a time of an increase in the number of criminals pretending to be genuine lawyers to defraud clients and other firms of solicitors.

Use of Veyo will be at a charge per transaction of £20.

Palmers has already registered its interest in Veyo and looks forward to Veyo living up to its stated aims and ambitions.

For more information, please contact me at ClareButcher@palmerslaw.co.uk or on 01268 240000.