New Conveyancing Fee Protection Plan Launched

Vio Legal Services have announced the launch of an unregulated Conveyancing Fee Protection Plan for Homebuyers and sellers of property.

A quarter of house sales fell through in 2019.
One in four (24.42%) of house salesin England and Wales fell through before completion in 2019, according to figures released by independent home buyer Quick Move Now.
On a quarterly basis the fall through figure was 28.21% in the last three months of 2019.

The fall out figures on house transactions has a considerable effect on the house buyer, seller and the conveyancer who spends both time and financial resource in working on uncompleted transactions.

Vio Legal Services, a division of Vio Insurance services limited (an FCA-registered company), have launched an unregulated HOME BUYERS & SELLERS CONVEYANCING FEE PROTECTION PLAN and is currently working with several large conveyancing groups to provide additional marketing of the plan to their clients

The plan may be purchased by the client, in some cases conveyancers are providing the low cost plan and absorbing the cost to attract more clients and to improve their acceptance rates of enquiries , it covers transactions for either 120 or 180 days from Instruction and protects the client in the event of non-completion for the majority of the conveyancers fees*

Client benefits include:

Purchase and Sale Legal Fees, including Searches
Mortgage Fees
Survey/Valuation Fees
Moving Expenses (Premier Plan only)
Estate Agent Marketing Fees (when client is selling)

At a time when the house buying/ selling market is starting to grow the plan has been well received by conveyancers who use it to obtain new instructions as part of their “conveyancing Package”, and provide increased protection for their clients during the process.

The plan process requires limited administration to assist the conveyancer and is taken out at the beginning of the client’s instruction.

Vio Legal Services have a range of added value plans for the Home buyer and seller to improve conveyancers fee income available and will assist the conveyancer with supporting marketing services.