Small Conveyancing Firm of the Year 2018

Winners of the prestigious award for Small Conveyancing Firm of the Year 2018

Gaddes Noble Property Lawyers are very proud to announce that they have won the prestigious award for Small Conveyancing Firm of the Year 2018.

The LFS Conveyancing Awards are the largest and most prestigious event in the conveyancing calendar.  At this national event, over 700 solicitors, licensed conveyancers and conveyancing professionals enjoyed an evening of entertainment, a three course gala dinner and a nervous wait with other finalists to see who would be crowned winners.

Small Conveyancing Firm of the Year 2018

The award that we have won was available to all Small Conveyancing Firms. It gave us the opportunity to enter for offering a first class service but without having the large marketing budgets of our larger rivals and to compete against each other on a level playing field.

The judging process was over five stages and comprised of:

  1. Completion of an application so that the judges could make an initial assessment.
  2. A mystery shopping exercise to obtain a conveyancing quote. This process was scored on both the quality of the phone call and the subsequent quote pack that they received.
  3. A compliance check undertaken by Legal Eye. They requested several documents and policies and a score was given to each firm.
  4. A telephone interview by one of the judges.
  5. Shopper Anonymous undertook a client survey based on a net promoter score.

Managing Director, Lee Gaddes, commented ‘to win this highly acclaimed award is an honour and a testimony to our fabulous conveyancing team.

We all enjoyed the evening with our fellow finalists in Birmingham and never expected to win. The award now takes pride of place in our reception area in our offices in Huddersfield and will be our benchmark for the years to come’.

Small Conveyancing Firm of the Year North win 2018

Gaddes Noble Shortlisted Small Conveyancer of the Year

Shortlisted for the prestigious award for Small Conveyancer of the Year 2018

Gaddes Noble Property Lawyers are very proud to announce that they have been shortlisted for the prestigious award for Small Conveyancer of the Year 2018.

The LFS Conveyancing Awards are now in their seventh year and are the biggest and most prestigious event in the conveyancing calendar.

The award that we have entered was available all Small Conveyancing Firms. It gave us the opportunity to enter for offering a first class service but without having the large marketing budgets of our larger rivals and to compete against each other on a level playing field.

We have been part of a five-stage judging process, comprising of:

  1. Completion of an application so that the judges could make an initial assessment.
  2. A mystery shopping exercise to obtain a conveyancing quote. This process was scored on both the quality of the phone call and the subsequent quote pack that they received.
  3. A compliance check undertaken by Legal Eye. They requested several documents and policies and a score was given to each firm.
  4. A telephone interview by one of the judges
  5. Shopper Anonymous undertook a client survey based on a net promoter score

Managing Director, Lee Gaddes, commented ‘to be shortlisted for this highly acclaimed award is an honour and a testimony to our fabulous conveyancing team.  We are all now looking forward to attending the awards dinner later this year in Birmingham’.

Tackling Unfair Practices in the Leasehold Property Market

There are two different forms of legal ownership, freehold and leasehold.

Blockchain and bitcoin property transaction

Blockchain and Bitcoin, the Future of a Conveyancing Transaction?

Blockchain and Bitcoin

Blockchain

A continuously growing list of records called blocks which are linked and secured using cryptography.

Bitcoin

A worldwide cryptocurrency and digital payment system called the first decentralised digital currency.

A property lawyer is responsible for millions of pounds of client money each year ensuring funds are protected and then transacted to complete a property transaction.  The current payment process is through our banking system in the UK mainly using the CHAPS method of payment.

Will what we do and how we transact be revolutionised by blockchain technology?

The simplest way to explain the technology is thinking back to when HTML became the visible layer of the internet allowing it to be navigable and appealing to non-engineers.  Blockchain technology is similar to HTML and will become the invisible piece of software behind highly trusted transactions like the ones we transact every day in conveyancing.

In October 2017 a dentist based in Swansea was the first property buyer in the UK to exchange contracts digitally in a process which its promoters claim has the potential to remove the need for solicitors in transactions. The buyer acquired a £700,000 commercial property in Trowbridge in an online deal secured by blockchain digital encryption technology.

Blockchain is also being investigated by law firms and insurers as a way of creating ‘smart’ contracts, the terms of which are activated automatically on receipt of trigger information. Blockchain could transform the process by securing all details of the transaction in a tamper-proof form.

So blockchain is potentially a game changer and we are closely monitoring its development and its implementation worldwide.  Anything that will make the conveyancing process more efficient is a win-win for the client and the solicitor.

A legal title will still need to be checked and searches will still need to be carried out, but this may eventually be undertaken at the very outset when a property seller is ready to put their house on the market. A digital file would be created and verified without the need for a property lawyer to check it several weeks into a transaction being instructed.

Payment using Bitcoin

In terms of payment, many people worldwide hold Bitcoin as a digital currency and they exchange Bitcoin for other currencies, products and services.

Bitcoin could be used to purchase a property.

In September 2017 a property seller in Dubai listed the first property development ever to be offered for sale using the virtual currency.

The discussion around blockchain and bitcoin will continue and considering the government’s current consultation on improving the home buying and selling process, if greater efficiencies can be created whilst saving time and reducing costs, this can only be a good thing.

At Gaddes Noble Property Lawyers, we will embrace all positive changes and technological enhancements ensuring that cost savings are passed directly to our clients.

Conveyancing and Estate Agents

Traditional Estate Agent or Online Estate Agent?

Discussing the effect on Clients and Conveyancers

Traditional Estate Agent

Most high street Estate Agents will typically charge an average of £1500.00 or a percentage of the sale price, on a no sale no fee basis, with no deferred payment, so they get paid when the property sells.  They usually often offer, a dedicated sales team, extensive sales progression work and local market knowledge.

Online Estate Agent

Most online Estate Agents will typically charge an average of £750.00, usually payable up front with a deferred payment charge/loan as an option. Big names in the online market are PurpleBricks, eMoov, Tepilo, HouseSimple, YOPA, Settled and Hatched.

Conveyancing Explained

When a new client instructs us to act on their behalf in the conveyancing, the property has already been sold, usually by the Estate Agent.  When a property has sold and Solicitors/Lawyers have been instructed, we receive a Memorandum of Sale from the Estate Agent.

Whether it be a traditional or online Estate Agent, we receive a detailed Memorandum of Sale detailing the main terms of the transaction which usually includes:

  • The full address and postcode of the property
  • The sale price
  • The names and addresses of the seller and purchaser
  • The name, address and contact details of the lawyer they have instructed
  • Any special remarks or conditions

We use that information to open your new file and start the conveyancing process.

The Main Differences

The main difference that we find is that a traditional Estate Agent will contact us several times throughout the transaction, often by telephone for updates on how the matter is progressing.

They will also contact the other party’s Solicitor/Lawyer for updates on their part of the transaction.  Updates will also be asked for by email and then the information passed on to the seller and buyer.  It is a ‘hands on’ approach and ensures that sales progression is maintained and all parties are fully informed and up to date.

An online Estate Agent will rarely contact us once a property has reached the conveyancing stage and sold subject to contract, their contact with us, the seller and the buyer will be minimal.

Once contracts have been exchanged and a completion date set as legally binding, we will always inform the Estate Agent whether they are traditional or online.

  • With a traditional Estate Agent, a fee invoice will usually be generated to be paid on the day of completion.
  • With an online Estate Agent, the fee will have usually been paid upfront and therefore their involvement at this stage is usually not needed.

We also find the day of completion very different with the Estate Agent models compared here.

  • With a traditional Estate Agent, the seller’s keys are deposited with the Estate Agent at their office ready for collection by the purchaser when legal completion takes place.
  • With an online Estate Agent, the onus is on the seller and buyer to meet and hand over their keys direct, once we have confirmed that funds have been received.

With a property sale, you are welcome to leave the keys to your property with us for collection if this assists you on the day of completion.

Conveyancing Service

Whichever model you choose to sell your property we can act on your behalf in the conveyancing of your property.  We will assist you with any negotiations that you require and be in regular contact with your buyer or seller’s Solicitor, we will ensure that funds are received into our client bank account on your behalf before you hand keys over to your buyer.

Residential Conveyancing
New Build Conveyancing
Commercial Conveyancing