A new thrust in the battle against mortgage fraud

Working in financial services takes you into some interesting and different places and it’s always good when we find we can deploy our skill sets in slightly left field areas. So we’re delighted to announce that we’ve recently created a new online conveyancing tool and wrapped it up in a new business called Jet Convey. We’re rather excited about Jet, (and rather proud of our new baby) so thought we’d tell you about it and also put together a media cuttings file for anyone who may be interested (see end of post).

Effectively Jet incorporates the Council of Mortgage Lenders’ handbook into an online tool that can be used by conveyancers and solicitors to make sure they stay compliant and meet all their legal duties throughout the conveyancing process. It also allows them to demonstrate they have done so.

Of course, because it’s an online system, it also means Jet stays up to date with any changes as well. It can be amended much more easily than a printed handbook.

The sector is under massive pressure to crack down on fraud and negligence, and faces all sorts of challenges both on a regulatory and a business level.  We think Jet can help conveyancers meet these challenges.

In fact, since this is our blog, and we don’t have to be modest here, we happen to think it could revolutionise the process and help reassure lenders that conveyancers are embracing the highest standards in the fight against fraud. If you want to check out the website there are more details on the following link –www.jetconvey.com

We have been working with a number of partners on the project including solicitor Julian Sampson, one of Space 01’s ‘Non Execs’, and conveyancing and lending expert Alan Dring for well over a year. The roll out began just last month and has already seen a lots of interest from conveyancing firms.

But there may be a broader point. There are probably all sorts of areas within financial services which could still benefit from being digitised to ensure information is always up to date and people can have it to hand in searchable, accessible ways. Technology will also let professionals across all sorts of sectors demonstrate they are adhering to a compliant, regulated and repeatable process. Sometimes it is easy to forget that we are only in the middle of the online revolution.

Here is a selection from the titles which covered the launch:
Law Society Gazette
Mortgage Strategy
Contact Law

Here is coverage of the CML’s welcome for Jet:
Mortgage Introducer

Finally this is a feature by Alan Dring for BestAdvice.net discussing the challenges facing the sector and how Jet can help conveyancers beat fraud.

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