What is Veyo?

I am sure you will have heard Veyo mentioned as either something which will make conveyancing simpler in the future, or maybe the opposite point of view, so what is it? Here is a brief guide which we hope you find helpful:

VEYO is a new cloud based tool that enables the various parties in a residential conveyancing transaction to communicate and exchange data, enabling the end to end, online resolution of a sale and purchase. So says Veyo.

Haven’t we been here before? Is this just HIPs by another name?

Well, in a way, my opinion is that this is exactly HIPs for the post HIP era. Just as in the various HIP management systems before, customers can see the progress of their transaction at any time and keep tabs on all things being done at the right time.

Is it just a case management system?

Although there is an inbuilt case management system, Veyo goes further by allowing users to communicate with each other in a secure and safe place

Can it be used for all property transactions?

No, Veyo can only be used for residential freehold and leasehold only.

Who is behind Veyo?

The Law Society and Mastek Ltd.

When will Veyo launch?

About now, actually. We spoke to them on 15th May and they say that in their eyes a spring launch is defined by the end of May which will definitely happen.

So is everyone ready to be included, Land Registry, Search providers, Water Companies, Estate Agents?

No, that is all work in progress, so far it will be Conveyancers talking to Conveyancers.

How much does Veyo cost?

Each firm must register all users, not one user per firm. This will cost £50 plus VAT per user per year. There is also a £20 per case fee charged at receipt of instruction.