Conveyancing tech firm pledges dramatic time savings on transactions

The conveyancing technology firm Search Acumen has launched what it calls “an end-to-end solution” in a bid to abolish “antiquated” ways of working.

The firm says its new conveyancing platform automatically combines and distils data including local authority searches, engagement with HM Land Registry, title reports, indemnity issues, bank checks and post completion filings including AP1 forms and Stamp Duty Land Tax submissions.

It allows conveyancers to digitise the AP1 submission process to register the transfer of land which HM Land Registry has made a requirement for all firms by November this year. Currently up to 80 per cent of AP1 submissions involve uploading physical paper documents.

Search Acumen claims that full digitisation of the AP1 process alone can save over half an hour of processing time for every transaction which “equates to over 500,000 hours of reduced administration annually across the sector as a direct result of an automated digital process.”

The PropTech firm adds that thanks to other facilities, such as the platform auto-populating some legal forms and communicating directly with the nominated Land Registry case worker, conveyancers could save as much as five hours work per transaction.

Andrew Lloyd, Search Acumen’s managing director, says: “Our residential platform will continue our track record of abolishing antiquated ways of working and empowering legal professionals to have greater control over transaction processes. 

“It provides a single intuitive portal for the project management of residential sales and purchases and will play a crucial role in digitising key processes, most pressingly AP1 submissions ahead of November’s deadline.

“The end-to-end solution uses advanced AI to automatically populate relevant data throughout the entire transaction process, removing a huge amount of high-volume, low-skill administration, filing and project management tasks. The result is that conveyancers have  information more readily at their fingertips, leaving them to focus on more strategic issues and problem solving for clients.

“The resurgent residential market has provided living proof to many firms of the need for smarter, simpler and more sophisticated ways to manage the property transaction process. Housing all the digital tools to make this possible within one dedicated platform will multiply the time conveyancers can save and deliver a better user experience for legal professionals and their clients.”