Please be advised of the following price and product updates from FCI, effective from 3rd March 2022:
| Residential | ||
| Old Product Name | New Product Name | New Cost |
| FCI Premium Residential (<0.25Ha) | FCI Premium Residential (<1Ha) | £64.20 |
| FCI Premium Residential (>0.25Ha-5Ha) | FCI Premium Residential (>1Ha-5Ha) | £115.80 |
| FCI Standard Residential (<0.25Ha) | FCI Standard Residential (<1Ha) | £60.00 |
| FCI Standard Residential (>0.25Ha-5Ha) | FCI Standard Residential (>1Ha-5Ha) | £114.00 |
| FCI Essential Residential (<0.25Ha) | FCI Essential Residential (<1Ha) | £53.40 |
| FCI Essential Residential (>0.25Ha-5Ha) | FCI Essential Residential (>1Ha-5Ha) | £75.60 |
| FCI Flood Residential (<0.25 Ha) | FCI Flood Residential (<1 Ha) | £23.40 |
| FCI Flood Residential (>0.25Ha-5Ha) | FCI Flood Residential (>1Ha-5Ha) | £46.80 |
| Product Name | New Cost | |
| FCI Energy Residential (<10Ha) | £20.40 | |
| FCI Premium Plus Planning | £83.40 | |
| FCI Planning | £35.70 | |
| FCI Premium Plus CON29M | £102.00 | |
| FCI Con29M | £42.00 | |
| FCI Flood Appraisal – Residential (Up to 0.25Ha) | £234.00 | |
| Product Name | Cost | |
| FCI Ground Stability Residential (<1Ha) | £20.40 | |
| FCI Ground Stability Residential >1Ha – <5 Ha | £27.30 | |
| FCI Ground Stability Residential >5Ha – <150 Ha | £68.40 | |
| FCI Premium Residential >5Ha – <150 Ha | £198.00 | |
| FCI Standard Residential >5Ha – <150 Ha | £174.00 | |
| FCI Essential Residential >5Ha – <150 Ha | £126.00 | |
| FCI Flood Residential >5Ha – <150 Ha | £100.20 | |
| FCI Enviro Appraisal – Residential (Up to 0.25Ha) | £294.00 | |
| Commercial | ||
| Product Name | New Cost | |
| FCI Retail <0.25 | £118.80 | |
| FCI Commercial <15Ha | £222.00 | |
| FCI Commercial >15Ha – <50 Ha | £372.00 | |
| FCI Commercial >50Ha – <150 Ha | £510.00 | |
| FCI Energy Commercial (<30ha) | £40.80 | |
| Old Product Name | New Product Name | New Cost |
| FCI Flood Commercial (<0.25Ha) | FCI Flood Commercial <15Ha | £75.00 |
| FCI Flood Commercial (>0.25Ha-5Ha) | FCI Flood Commercial >15Ha – <50 Ha | £115.80 |
| FCI Flood Appraisal – Commercial (Up to 5Ha) | FCI Flood Appraisal – Commercial (<2Ha) | £360.00 |
| Product Name | New Cost | |
| FCI Flood Commercial >50Ha – <150 Ha | £170.40 | |
| FCI Enviro Appraisal – Commercial (Up to 2Ha) | £540.00 | |
| Chancel Liability | ||
| Product Name | New Cost | |
| ChancelCheck | £27.60 | |
| ChancelCheck Premium | £103.20 | |
| Title Checker | £27.60 | |
| Title Check and Chancel Check | £46.80 |
If your bundles include any FCI products, your account manager will be in touch. If you have any questions or comments, please email intro@onesearchdirect.co.uk or get in touch with us on 0800 052 0117 and we will be more than happy to assist you.
We recently ran a poll on our LinkedIn feed asking conveyancers: are you breathing a sigh of relief or do you feel the new SDLT measures are simply prolonging the pressure? How do you feel about the SDLT holiday extension and tapering?
The biggest majority (55%) stated “More negative than positive”.
Whilst the Stamp Duty holiday extension prompted a sigh of relief for many homebuyers, it has also paved the way for a surge of buyers pushing for completion before the 30th June. The government’s new mortgage guarantee scheme, which will increase the availability of 95% LTV mortgage products, is set to galvanise first-time buyers, and put further strain on lenders already dealing with bottlenecks.
Continued delays at various stages of the homebuying process means some buyers may still be unable to complete their transactions and benefit from the tax savings. This is predicted to result in fall throughs and broken chains.
How can no-search insurance help?
We believe our insurance policy, OneSearch Express, will allow you to complete on more property purchases.
We understand completing without obtaining full searches carries an element of risk, and that some conveyancers have concerns about no-search insurance, so we want to share more information about our data-rich alternative, OneSearch Express, and go over the risks and benefits.
At present, we know:
- Hackney Council’s turnaround time will already miss the new deadline.
- Latest research shows it’s now taking an average of 295 days to sell a home.
- People may abandon their transaction if they cannot benefit from the SDLT holiday.
- Not all conveyancers are aware of the OneSearch Express 0% claims record.
Complete more transactions with over 70% of the Local Authority data
Express is different from other indemnity policies. It’s a £1m insurance policy, and also includes over 70% of the data normally obtained from local authorities. We believe this, along with the TA6 Property Information form, gives you the best alternative to searches when you need to complete before SDLT deadline.
Two key free resources to aid decision making
We believe Express is a safer solution than standard no-search insurance policies. To address concerns that have traditionally accompanied no-search insurance, we want to be transparent about what exactly our Express insurance product is.
- How does Express protect your client? The OneSearch Direct Express policy will compensate your client for the difference between the price they paid for their property and any reduced value that results from previously unidentified issues which would have been revealed in a search.
- Protect your client and lender Not only will your client be covered for the entire period of ownership, but the bank, building society or other lending institution holding a mortgage or charge on the Property will also be protected for the full term of any mortgage or charge created during the owner’s Period of Cover or until such mortgage or charge is repaid, if later.
We have put together two free factsheets that talks about the risks and benefits of using Express insurance: one for the conveyancer, and one for the homebuyer. We hope you can use these as guides for initiating discussions around no-search insurance and offer your clients alternatives as they look to complete on their transaction before the SDLT deadline.
To download the factsheets, please click here or email intro@onesearchdirect.co.uk.
Would you like to receive an Express sample direct to your inbox? Please click here.
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.
The end of 2020 is almost upon us, and at OneSearch, we plan to spend 2021 catching up on all the fun we’ve missed out on this year. To celebrate, we’re giving away 10 fantastic Experience Boxes from Buyagift. This free prize draw will take place for ONE WEEK ONLY, so make sure to get your entry in now!
Happy Christmas Experience Box
With 2760 Experiences available, this prize will be available as an instant eVoucher, and lets you choose from thousands of relaxing, exciting and indulgent gift experiences at locations across the UK. Treat yourself to a relaxing spa day with some much needed pamper treatments, or dust off the cobwebs on an adrenaline-fuelled adventure such as indoor skydiving or even scuba diving! From supercar driving and paintballing to champagne afternoon teas and stadium tours, there’s something to suit every taste.
The prize draw is free to enter, with winners announced Monday 21st December 2020. CLICK HERE to enter via prize draw entry form, which will enter you into the prize draw for a total of ONE entry, but you can also increase your chances of winning by:
- Placing an order on our online portal onesearch.direct between 11th and 18th December 2020.
- Following our LinkedIn page and “liking” any of our “Experience Box Prize Draw” promotional posts to record your entries.
- Following our Facebook page and “liking” any of our “Experience Box Prize Draw” promotional posts to record your entries.
- Liking or retweeting our “Experience Box Prize Draw” promotional Twitter posts.
Full terms and conditions can be found here.
About Buyagift
Buyagift is the UK’s leading provider of experience days. If you’re looking for a unique birthday gift or an extra-special Christmas present, or just a novel way to mark your own special occasion then Buyagift offers an exceptional choice from which to select. By purchasing a gift experience for your friend or loved one, you are not just giving them a thoughtful present, but also a wealth of memories to enjoy for years to come. A unique Buyagift experience day really is the gift that keeps on giving!
Visit the Buyagift website here.
We would like to invite you to our next webinar in association with Lawyer Checker:
How can you be sure you’re transferring funds to the right account?
Tuesday 25th August, 2020 11:00 AM – 12:00 PM BST
Join us to find out how utilising the Consumer Bank Account Checker will enable you to enhance your risk management and demonstrate compliance with The Conveyancing Protocol, which states in section A point 3:
“Obtain evidence that the bank account is properly constituted as an account conducted by the seller for a period of at least 12 months. Confirm that remittance will be made to that account only.”
You can register for this webinar by clicking here.
Whether sending or receiving client monies, Consumer Bank Account Checker validates the source or destination of funds. 69% of UK firms have been hit by cybercrime; it’s no longer a case of ‘if’ but ‘when’. Consumer Bank Account Checker is an additional step to a robust risk management procedure.
Examples of where Consumer Bank Account Checker would protect you:
- Human error
- Client impersonated either by phone, email or in person
- Elderly client, family member helps fill out the paperwork
- Portal/E-Forms details compromised
- You already have one process to ensure funds are remitted to the client’s bank account. If this process breaks, what happens?
Click here to register for the webinar
Priced at only £3.00 inc VAT, Consumer Bank Account Checker is an important part of your due diligence in preventing criminals from redirecting funds. The result currently confirms the name, bank account details, address and ownership of an account before you send funds to a client.
NEW ‘Traffic Light System’ to alert you to the age of the bank account. The report will now flag accounts which have been open for less than 12 months.
When fraudsters intercept law firm communications and conduct cyber-crime, the accounts to which they redirect funds are often opened and closed quickly to avoid lengthy paper trails and detection.
Click here to register for the webinar
If you have any questions or comments, please get in touch with our Service Introduction team on 01782 433270 and we will be more than happy to assist you.
We are pleased to announce we are now able to add the following products to our search bundles:
LM04
Pre-completion check before submitting COT to the Lender, to ensure there are no changes to the Policy that may leave you exposed.
- Enables lawyers to stay on top of lenders’ policy requirements, as set out in part 11 of the Lenders’ handbook instructions
- With 25% of all negligence claims against solicitors being brought by lenders, LM04 from LENDERmonitor is an essential yet simple mitigation tool
FREE WEBINAR
Lexsure are hosting webinars on 20th and 21st July titled: The Lender Handbook Compliance Gamble – Evening up the odds. We have exclusive access codes to these events. Please email us to obtain these.
e-ROT
Electronic Report on Title. The only dedicated online commercial and residential report on title software.
- Bringing increased protection, consistency and efficiency to building the most important document in a purchase transaction
- Dramatically reduces time spent drafting reports
- Significantly increases risk management
- Constantly updated with new optional paragraphs
- Standardises quality of reports across fee earners
- Provisional reporting – in accordance with CQS Protocol
RRP – £12.00 inclusive of VAT. Can be incorporated in bundle price, so as not to be a cost to your firm.
e-ROT Pricing
There is one-off set-up cost to register for the e-ROT service provided by Lexsure (£475+VAT for 1-3 partner firms and £975+VAT for 4+ partner firms). However, if you sign up before 31st July, OneSearch will cover the price of the set-up cost on your behalf.
Book an e-ROT personalised remote tutorial session
Land Registry Plan
This plan shows the owned property, registered at Land Registry under a unique title number specific to the property. Title plan maps are prepared by whichever Ordnance Survey map is available at the point of registration. Included in the title plan:
- the title number of the land
- the land included in the title which is normally edged in red. There may be other colours or markings on the plan. The significance of these is explained in the register
- the scale at which the plan is drawn
Free of charge, with every local search order (except New Build).
OneSearch search bundles are very competitively priced. If you would like a bespoke quote, based on your requirements and incorporating any of the enhancements listed above, please get in touch with us on 01782 433270 or intro@onesearchdirect.co.uk.
Lidia Quinlan
Head of Sales, OneSearch Direct
If you have any questions or comments, please email intro@onesearchdirect.co.uk or call us on 01782 433270 and we will be more than happy to assist you.