Five areas that could dominate 2021 for conveyancers

The New Year is a time of reflection and aspiration to “do better” than last year.

We can all agree, 2020 threw most of our plans out of the window. At OneSearch, we’re looking to 2021 with a positive outlook. With the news that we are entering yet another lockdown, we would like to reassure you that we remain fully operational due to our robust business contingency plan in place.  

This year we will continue to tackle longstanding issues like protecting law firms against claims and cybercrime, and focus on challenges such as meeting the demands of the Stamp Duty holiday deadline and lender handbook changes. 

We’ve put together a list of five areas for conveyancers to consider. Which is going to top your list for 2021?

1. Completing as many transactions as possible before the Stamp Duty deadline

As Property Industry Eye reported, “The government has confirmed that it “does not plan” to extend the temporary relief offered to property buyers via the Stamp Duty holiday.”

The OneSearch Solution:

With the deadline approaching fast, remember we are offering OneSearch Express. With a 2-5 day turnaround, Express is our no-search insurance policy with the addition of a property data report that allows you to complete transactions fast.

Download a sample report to see what’s included.

2. Scrub up on indemnity policies… they might just save the day

Unforeseen difficulties with a transaction could leave you vulnerable to a claim. Indemnity Insurance could be what stands between you and a large financial settlement. Depending on your policy, you could be covered well into the millions of pounds, which, without proper cover would be the kind of claim that could cause the collapse of even a well-established firm.

The OneSearch Solution:

We’ve put together a guide on Indemnity Insurance which includes information on how we can help. Please click here to read it.

We’ve integrated a Quick Quote calculator which offers an extensive range of Stewart Title indemnity policies designed to protect your customers from risk. Click here to try it out (no registration required). 

3. Fighting cybercriminals and money laundering

PriceWaterhouseCooper, among others, has reported a rise in cybersecurity incidents. Email, phishing and social media scams were especially problematic.

The OneSearch Solution:

To help you fight cybercrime, OneSearch has joined forces with Lawyer Checker to bring you advice and guidance. Check out our blog and see if we can help you with a basic cybersecurity strategy.

4. Protect your search costs

Most conveyancers will know first-hand that the path to completion is not without drama. Problematic survey reports, vendors facing redundancy/illness, or even a property suffering significant damage during the transaction. Buying and selling a property comes with risks of all shapes and sizes and can be very costly if you don’t take out adequate protection.

The OneSearch Solution:

OneSearch Pledge is a warranty add-on product, that when purchased along with your other search products from OneSearch, means we will reimburse your search costs up to a maximum of £300 if the purchase of the property falls through.

View our product card for a full list of exclusions.

Please get in touch to add this product to your bundles.

5. Keep learning with our webinar range

The one thing we can all do to become more informed and resilient is to invest in our learning.

The OneSearch Solution:

OneSearch has a range of upcoming and on-demand webinars to help keep you informed and up-to-date. Our next webinar on Chancel Repair Liability takes place on Thursday 14th January at 11am. Click here to join us.

Make sure you’ve signed up to our mailing list to receive all future webinar invitations.

What are your predictions for 2021? We’d love to know what you think! Email us at digitalmarketing@onesearchdirect.co.uk and we’ll share your thoughts with our 3000+ Twitter fans (you can remain anonymous if you wish).

If you would like more information on any of the products discussed, please contact your Regional Manager, or call us on 01782 433270 and we’ll be happy to assist you.

We look forward to helping you and your firm thrive in 2021.