At last week’s Conveyancer Summit a new scheme was unveiled that will enable consumers to purchase properties where the legal work has already been completed.
Ed Powell, director, B E Consultancy, explained more about the Safe Move Scheme at last week’s event which was part of the Estate Agents Events conference.
The Safe Move Scheme offers an independent kite mark of quality for consumers, denoting properties that have already undergone advanced legal preparation for sale.
Properties carrying the logo will be faster and easier to buy, with less chance of the transaction falling through.
The scheme has been developed in conjunction with lenders, intermediaries, insurers, solicitors, estate agents, RICS and property data companies.
Key partners include LSL and Santander and the scheme is being promoted to consumers by Right Move who are distinguishing properties with the Safe Move Scheme kite mark on their website.
Every property with the logo will have been prepared by approved Safe Move Scheme Lawyers and marketed by Safe Move Scheme registered agents.
Properties will be offered with preferential rate mortgages. Tracey Carr, Financial Crime Manager at Santander said "The Safe Move Scheme provides a more secure and efficient lending process for Santander which, in turn, enables us to pass on benefits to our customers through a new range of mortgage products."
Mr Powell said: “We hope that Safe Move Scheme will become the ATOL of the property market. It’s a scheme that delivers something for everyone involved in the process; consumers, estate agents, lawyers and lenders.
“We’ve got a great relationship with a number of lenders which we think offers a unique opportunity for the scheme.”
The scheme is currently in pilot stage with a full launch scheduled for early next year.