A York based estate agency customer has been the first to complete a pre-filled Law Society licensed digital TA6 form after changes to the form were announced earlier this year.
Hunters Estate Agency, which is part of the Property Franchise Group (TPFG), have announced that one of their customers is the first to complete the pre-filled digitised form, which was produced by the Law Society and a property market tech company called Coadjute.
Coadjute’s TA6 Form isn’t just digital, it pulls through property data already available over the Coadjute Network, where the data can be used to pre-populate the Digital TA6 Form. That same property data can subsequently be re-used throughout the transaction as and when needed.
The tech company say that ‘all property data on the Coadjute Network has data provenance’, meaning there is always a documented trail that accounts for where the data originally came from.
The Digital TA6, developed through a collaboration with the Law Society, aims to simplify and expedite the property transaction process after feedback on the new 32-page form revealed difficulties for clients and those within the sector. Hunters say the ‘innovation marks a leap forward in the efficiency and accuracy of property transactions, promising to streamline the client and property onboarding, listing, and conveyancing process’. It is expected to set a new standard in the industry.
Hunters’ customer, Gavin Day said: “The process for using the Digital TA6 was clear and quick and I found it very easy. My agent sent me a link, there was a lot of information about my property already pre-populated and even though a lot of information is still required, it took barely any time. I am looking forward to the rest of the process now, especially if it is this easy.”
The Law Society underwent criticism after it was announced the completion of the new TA6 form would become mandatory. Feedback at the time suggested that the new document was ‘overwhelming’ for both conveyancers and clients.
A survey conducted by Bold Legal Group revealed that 70% of conveyancers felt the 32-page document was ‘not helpful’ and a further 58% were concerned the TA6 would increase their PII cover.
Over half of conveyancers surveyed said they would not use the form before it became part of the CQS protocol. Just over a quarter (26%) said they will charge clients for assistance with the form after 36% say they have completed the document themselves – the consensus is that ‘clients find the form overwhelming’ and will ‘require help’. The majority of conveyancers who have received back a TA6 found the form incomplete.
Coadjute’s digital data solutions enable estate agents to access a range of data sources ‘at the press of a button’. Once the relevant data is sourced, it can then be transposed instantly to a range of property documents including PIQ, BASPI or Licensed TA6 and shared with the seller and conveyancer.
Jenna Heath, Sales Manager at Hunters Estate Agency York commented :“The Coadjute Digital TA6 product really is a game-changer. It took minutes for me to start the process with the vendor. Within an hour or so, they sent back a completed TA6 licensed by the Law Society ready for us to send to the conveyancers on the deal once they’ve been instructed. The bonus is, by doing this step, we are NTS compliant, and we have all the details we need to start marketing the property. I am so excited about what this means in terms of time savings for the team and the likelihood that we will significantly reduce transaction times and fall-throughs.”
Hunter’s MD said that the product is an ‘advancement’ in the buying and selling process.
Rob Smith, MD of Hunters commented: “Coadjute’s Digital TA6 product represents a significant advancement in the buying and selling process. It enhances the accuracy of the information provided, reducing the potential for legal disputes and delays. We are proud to support this initiative. We are thrilled Hunters were the first to use it and look forward to seeing the benefits it brings to our franchisees and our customers.”
One Response
If the agent’s are now doing the TA6 with the clients, how about we take out the requirement for Conveyancers to receive, review, report on and raise enquiries of the TA6. The estate agent can now take over that role and take out and pay for professional indemnity insurance. Perhaps the estate agent will indemnify the seller, buyer and the conveyancers involved in any advice they are giving the vendor in the completion of the form and any mistakes errors and omissions that arise as a result that might bring a negligence or misrepresentation claim.