Many Bridging Lenders have recognised the importance of a highly efficient process as a key part of their bridging proposition. So, when selecting a bridging conveyancer it’s vital to choose one that can offer a slick conveyancing process too so that the whole property transaction can be concluded in a timely manner. In this way property clients and their Introducers can all fully realise the business potential of this bridging boom.
One option to streamline the bridging conveyancing process which we’ve pioneered in my firm – Goldsmith Williams – is a joint representation service. Whilst not appropriate in every case, joint representation can not only accelerate completion and reduce costs but also lessens the stress for the borrower by removing the need to deal with multiple firms of lawyers - a welcome benefit during a time critical process. Our extensive experience in this sector enables us to recommend using this approach wherever it is appropriate for the bridging transaction.
A streamlined process however can only go so far. Quality Service is another fundamental factor in ensuring that completion is reached as quickly as possible but with no sacrifice on the legal service delivered. So look for firms who hold quality accreditations such as the Law Society’s prestigious Conveyancing Quality Scheme and take a note of any other accreditations for quality such as the ISO 9001 accreditation that your shortlisted firm’s hold.
Another indicator of quality service is the ratings clients give the firm in their Client Satisfaction surveys. Not all firms offer such a feedback opportunity to clients, indeed that in itself is an indicator of the priority the firm places on service delivery. In my firm we offer all clients the opportunity to complete a satisfaction survey and we’re delighted with our average nine out of ten score from conveyancing clients!
Finally, whilst news of the economy is more optimistic now than it has been, overall business confidence remains low. Some law firms have recently ceased trading and so clients will want the comfort of dealing with stable and established firms. Look for firms who have worked in this sector in the long term, who can bring deep experience to bear in dealing with your client’s property transaction and who enjoy a good reputation within the industry as a whole.
The tenor of coverage of the property market in general in the media is, at last, taking a more up-beat tone – something the market has waited a long time to see. And, if there are better times ahead in the bridging sector then I’d encourage all brokers to make sure they gain maximum benefit of this increased business by selecting efficient, high quality conveyancing services.
