Two things are quietly slotting into place that will change how conveyancing gets done within 18 months
Every major AI company in the world has agreed on a single way for AI agents to connect to external data, and Microsoft has already shipped it in Teams. Meanwhile, the UK property industry has been building its own open data standard, now live with Lloyds, Connells and LMS. Ed Molyneux explains why these two […]
HMLR-backed Geovation announces latest PropTech cohort
An AI real-estate management platform is among the latest group aiming to benefit from Ordnance Survey’s PropTech initiative. Cohort 22 of Geovation, which aims to harness the “power of geospatial data”, also includes a firm targeting tree-management and another using QR-enabled property information boards at street level. The cohort marks 10 years of Geovation’s Accelerator […]
NatWest completes two-day remortgage transaction with PEXA’s digital platform
NatWest has completed its first remortgage transaction using PEXA’s digital platform, with the process taking two working days from the mortgage offer. The typical UK remortgage timeline is around four to six weeks. The accelerated timeframe was made possible through the use of automated workflows and real-time settlement capability within the purpose-built digital infrastructure. NatWest […]
Strategic adoption of AI is a question of ‘how’ not ‘if’ for law firm leaders
Research repeatedly points to the adoption of AI in the legal sector as no longer being an optional extra, but a strategic priority. Today’s Conveyancer editor Juliet Shaw takes a look at the latest reports and what they mean for law firm leaders. Leadership responses to the rapid development of AI in the legal […]
We tested AI on 43 conveyancing scenarios. The results surprised us.
Moverly has added two new open-source AI skills to its conveyancing toolkit – a title defect analyser that reads Land Registry PDFs and a restrictive covenant advisor – and built a free online demo so you can see for yourself. Ed Molyneux on what worked, what did not, and what the profession should build next. […]
Fully digital homebuyer service launched by Lloyds Banking Group, LMS and Connells Group
Lloyds Banking Group, LMS and Connells Group have launched a fully digital home buying service, which the partners say will reshape the way homes are bought and sold across England and Wales. The digital homebuyer service has been developed to eliminate the points of frustration and cut weeks of waiting and uncertainty from the process, […]
FCA welcomes second cohort of AI-powered solutions for real world testing
As part of efforts to develop AI-powered fintech, the Financial Conduct Authority has announced its second cohort of organisations chosen to live test AI applications and “explore key questions around risk management and live monitoring to support the responsible deployment of AI for consumers and markets”. Eight new firms, including Coadjute, Barclays, Experian, Lloyds Banking […]
FCA open finance roadmap ‘important step forward for property sector’
The Financial Conduct Authority (FCA) has set out a roadmap for open data that will give consumers greater control over financial deals, and says it will examine how open finance can help consumers manage and improve access to mortgages. Open finance will offer people and businesses the potential to share their financial data securely with […]
FCA consults on the interpretation of cryptoasset activities ahead of summer policy statements
Following confirmation the issuing, management and transfer of cryptoassets is to be regulated, the Financial Conduct Authority has launched a consultation on its interpretation of cryptoassets activities ahead of the publication of policy statements in the summer. In December, the government confirmed cryptocurrency would become regulated, with providers required to register with the Financial Conduct […]
Legal-technology founder launches AI powered conveyancing firm
The founder of a conveyancing technology provider has launched a CLC-regulated law firm “to show that the variability that has long characterised the conveyancing process is not inevitable”. Ed Boulle is the co-founder of Orbital, an AI-powered property due diligence platform which provides summarised title documents, leases, deeds, searches and lender requirements for conveyancers. Announcing […]
Legal tech sees 35% increase in external investment as government invests £4.5m in incubator
LawtechUK, a Ministry of Justice-backed initiative supporting technology startups in the legal sector, has secured further funding to enable it to continue operating for the next three years. The programme, currently delivered in a partnership between CodeBase and Legal Geek, will receive an additional £4.5 million over the next three years. Last year, UK-founded lawtech […]
Industry body for legal software throws its weight behind home buying reform
The Legal Suppliers Software Association (LSSA) has thrown its weight behind efforts to reform the home buying and selling process in a meeting with the Ministry of Housing. The LSSA said it had met with a strategy adviser in the Ministry to discuss proposed reforms to the home buying and home selling process and the […]
The judgment line
In the fourth of his weekly series, Ed Molyneux introduces the concept that should shape how every conveyancing firm thinks about AI: the judgment line, and which side of it your work falls on. Over the past three weeks I have written about what AI can do, where it fails, and why provenance is the […]
New panel management platform aims to bring lenders and conveyancers closer
A South African technology business says it has launched a new panel management platform that will “simplify the onboarding process for conveyancers and improve panel management and oversight for lenders”. In the company’s native South Africa, e4 Strategic built a platform that connects all major stakeholders involved in a property transaction including mortgage lenders, conveyancing […]
NatWest now actively transacting on PEXA platform
NatWest is now actively transacting on PEXA’s digital property transaction platform, with the move affecting fee-assisted remortgage customers of the FTSE-100 bank. Sale and purchase transactions will follow, PEXA said. The high street lender signed a formal commitment to proceed with an implementation programme for remortgage transactions in July last year. The third largest mortgage […]
Why ‘AI says so’ isn’t good enough
In the third of his weekly series, Ed Molyneux explains why provenance – knowing where data came from and how conclusions were reached – is the difference between AI that helps your practice and AI that threatens it. Last week I wrote about where AI excels and where it fails in conveyancing. The response […]
New Law Society guide informs solicitors of AI risks
The Law Society of England and Wales has launched a new practical guide to help solicitors make safer, more informed technology decisions and warns that unsafe AI adoption may expose firms to risks. The majority of firms and solicitors now use AI for routine legal practice tasks such as drafting documents and analysing case material, […]
Smart property data could add £2bn to GDP; but only with legislative intervention
The application of smart data to the property market could contribute up to £2bn to UK GDP by the 2040’s according to a new report published by government his week. The Department for Business and Trade report “Economic analysis: understanding the costs and benefits of smart data use cases” analysed five use cases for smart […]
Award-winning industry leader launches latest version of legal case management
We’re excited to introduce the latest version of Redbrick Solutions’ legal case management software, featuring enhanced functionality and improvements, including the enhanced capabilities of Redbrick Legal AI, to help our clients deliver exceptional legal services more efficiently. The software’s new headline features include the following: Redbrick Legal AI: Built to help our clients achieve more […]
What AI can and can’t do with your case files
In the second of his weekly series, Ed Molyneux gets specific about where AI excels and where it fails in conveyancing — and why understanding the difference is the key to using it safely. Last week I introduced the “jagged frontier” of AI capability; the idea that these systems are superhuman at some tasks and […]