tm blog

Housing Secretary Sajid Javid has announced new measures to help improve the home buying and selling process in the UK; demonstrating a proactive response to the ‘Call for Evidence’ consultation, which closed in December 2017.  

tmgroup have welcomed the announcement, but accept there will be some scepticism. In particular around the newly-proposed voluntary reservation agreements and how much difference these new agreements will make to fall-through rates – especially as they overlook some of the other factors that can also destabilise the property chain.

Reservations agreements will only go so far in preventing sales from falling through

Echoing the process already in place in the Scottish property market, where homemovers are tied in once they have made an offer, the introduction of voluntary reservation agreements are expected to help “prevent sales falling through and crack down on gazumping”.

Whilst this should help to alter the mind set of those entering into the transaction, as well as make the property chain more resilient, voluntary reservation agreements will not offer a complete solution to the problem – even in cases where everyone in the chain has signed up. 

Lack of communication and visible progression could still give homemovers “cold feet” – and compromise the sale

This is because voluntary reservation agreements won’t address the other challenges that contribute to almost a third of all property transactions falling through before they reach completion – such as a lack of communication and visible progression between the consumer, estate agent and conveyancer. 

Even with a reservation agreement in place, this vital missing piece could still contribute to homemovers getting “cold feet” and rethinking their transaction.  

The exact consequences of someone with a reservation agreement pulling out of a transaction are yet to be known, as the initiative still needs to undergo a period of behavioural insight research and a trial, and so it will still be some time before the industry has a firm grasp of how strictly these agreements will be upheld – and how much of a difference they will make. 

PropTech companies are also making great strides to address challenges in the home buying and selling process 

Whatever the future holds for voluntary reservation agreements, it is positive to see such an initiative (alongside several others) in motion to try and address the challenges facing the home buying and selling process. 

It is also exciting to see new government measures complementing the pioneering strides PropTech companies are already taking to address the challenges in the property chain – such as tmgroup’s mio solution, which improves communication across homemovers, estate agents and conveyancers by offering complete visibility across the chain. 

With so many changes underway, 2018 is certainly shaping up to be a memorable year. Perhaps even revolutionary. 

Joe Pepper, CEO at tmgroup comments:

“The technology exists to make the property transaction smoother, safer and more transparent than ever before. Yet the average time to complete has grown by over 30% in the last decade – with poor communication being the number one cause of all complaints to the Property Ombudsman in the UK.  

Virtually all services can be completed from mobile phones in seconds, from paying for car parking, to taking out a loan from your bank.  The property transaction has been managed through a series of service-level agreements for years, but by bringing all the professionals together with the consumer in one secure online data room, the opportunity for a much faster and safer service becomes truly compelling.”

Want to improve your customer service? Talk to Clare Yates! She has over 25 years’ experience in the property industry and is more than happy to share what she knows to help you get the best out of your customer interactions. 

Here, she explains how asking every customer if now is a good time to talk – and genuinely responding to their answer – can make for happier conversations:

Any number of factors can affect your customers’ mood and emotions, and make them less tolerant of updates your team might need to share. 

This is why your team should never assume the customer is going to be calm and accepting – and always ask “Is now a good time to talk?” at the start of every call. 

If your team feel that a conversation isn’t going well, or if the customer would prefer not to talk, listening and responding to this is key. A simple response of “that’s fine, we don’t have to do this now, we can talk later” can help to leave the conversation on a positive note.  

Your team should also be able to recognise when they need to call a “time out” – instead of either parties losing their temper. They can introduce this by saying, “I appreciate your frustration. I’ll go and find some more information and call you back in 15 minutes.” 

Take a step back…

Does your team always ask “Is now a good time to talk?” Are they able to quickly recognise the signs of an unhappy customer – and do they feel confident enough to suggest they call back later? Would a 15-minute chat with your team help to create a better customer experience, positive word of mouth and maybe even a testimonial?

With thanks to Clare Yates, Senior Business Development Manager at tmgroup. 

Got a question? Connect with Clare on LinkedIn. 

The Board of CDS are excited to announce that as of 1st April a majority shareholding in their company has been acquired by property technology firm tmgroup for an undisclosed sum.  

Both CDS and tmgroup are committed to saving time for those working in the property sector, and  are looking forward to working together to create even more efficiencies and cost savings for property  professionals. They  also  bring  a  wealth  of  industry  knowledge  and experience to their new relationship.    

Paul Albone – Chief Operating Officer for tmgroup and incoming CDS Chairman comments:  

“I have known the CDS principals for many years and have been impressed with the brand and proposition they have created. This investment is a natural extension of the close working relationship we have developed and I look forward to enabling further collaboration and business growth of both  brands.”  

Since 1999, PropTech company tmgroup have been innovating and saving time for their customers, delivering on their vision to streamline the property transaction for the benefit of all. Working with  legal firms of all sizes, estate agents, lenders and developers, they help address business challenges, create more efficient processes and make the day‐to‐day tasks easier.  

This long‐standing commitment to the property sector is matched by CDS, a Conveyancing Search  Provider supplying all the necessary information required for a property transaction. With excess of 100 years' combined experience within the property search market, CDS deliver a reliable, fast and accurate service, alongside good communication, flexibility and a great customer experience.  

Following tmgroup’s majority share acquisition of CDS, both businesses will continue to operate as  separate companies to offer an unparalleled range of property‐related services to Conveyancers across England and Wales, as well as Scotland through tmgroup’s already well‐established Property Searches Scotland business, based in Glasgow.     

Matthew Joy – Sales and Marketing Director for CDS comments:  

‘The countless synergies between our two companies made this acquisition as uncomplicated and  elementary as any deal in our industry.    

Our individual strengths, as companies, complement each other entirely and will continue to be the  focus of our efforts moving forward.  

I'm also very pleased to say that this new partnership strengthens CDS and tmgroup's positions as  market leaders in the conveyancing sector.’    

Joe Pepper – Chief Executive Officer for tmgroup comments:  

“CDS  has  developed  an  outstanding  reputation  for  delivering  personal  search  services  in  the  Conveyancing market, and this acquisition makes perfect strategic sense for both parties, as well as  sending out a strong signal for our ongoing investment in the UK Property Search marketplace.    

tmgroup will support the existing CDS management  team to  grow the business even  further,  supported by our wider group and our ongoing investment in a best‐in‐breed technical capability.”    

The two companies will remain aligned in their current approach of utilising the right levels of  technical support and human touch to provide the very best in customer service to the Conveyancing industry.    

Coupled with the best methods of collating and delivering the most accurate, up to date information  and data available to its customers, tmgroup and CDS will now represent an even greater force moving forward.  

To Contact:    

Conveyancing Data Services : 0118 9690839 info@conveyancingdata.com    

tmgroup : 0844 249 9200 helpdesk@tmgroup.co.uk     

About CDS  

Conveyancing Data Services Ltd is a leading supplier of conveyancing searches to the property industry in England and Wales. Formed in 2010 by a management team, with a wealth of knowledge in the industry already, the company used its ethos of providing excellent customer  service to quickly build a strong and loyal client base.    

CDS are one of only a few companies of its type to employ a nationwide network of search agents for the compilation and supply of organically produced Local Authority and Water and  Drainage search reports to its customers.

The company employs 85 members of staff based all over England and Wales and at its main offices in Reading, Berkshire.  

About tmgroup  

As a leading IT solutions provider, tmgroup are the experts in innovative solutions that enable simplification and automation across the breadth of the property transaction. tmgroup’s customers extend to conveyancing solicitors, mortgage lenders, and developers.    

Key services:    

tmconvey : Property searches are an integral part of tmconvey, along with insurance and risk management tools. With its simple, integrated design, it cuts the time and effort it takes to complete the conveyancing transaction.    

tmconnect : tmconnect is a cloud based transactional hub, providing a joined‐up workflow for  estate agents, mortgage lenders and conveyancers to access and share transactions securely.    

tmcore : tmcore is an online property data hub for local authorities and other search providers, linking conveyancers to local authorities for faster land data without incurring unnecessary fees or being bound by complicated systems.    

tmconvey Premium : tmconvey Premium is a specialist service for commercial real estate  lawyers. Benefits include Premium Terms & Conditions, up to £20 million PI cover per claim, and a managed portfolio service.    

Property Searches Scotland : Property Searches Scotland are part of the tmgroup family and  offer a full range of property searches for residential, commercial and remortgage conveyancing across all of Scotland's 32 council areas.    

The company has 140 employees and is headquartered in Swindon.

For more information, visit www.tmgroup.co.uk 

The new and comprehensive residential environmental risk report – Groundsure Homebuyers Plus – is now available to order on tmconvey. 

Homebuyers Plus offers an enhanced version of the existing Homebuyers report and reviews flood, contaminated land and ground stability – alongside screening other environmental risks such as energy, transportation and planning. 

Key features of Homebuyers Plus:

• Each report has fewer pages (up to 70% less) and only includes relevant data, so there are no blank maps or excessive data – and conveyancers benefit from reduced printing and postage costs. 

• Flood risk assessment now includes new JBA 5 metre groundwater data, in addition to all other flooding sources.  

• It uses Land Registry polygons, and so provides a higher level of accuracy. 

Homebuyers Plus also comes with improved layout and design, as well as clearer navigation, to help improve overall workflow. While clear and practical recommendations offer a “jargon free” explanation and make it easier – and up to 10 minutes quicker – for conveyancers to communicate the results of each report to their clients.

The Groundsure Homebuyers Plus report is now available to order on tmconvey. You can view a sample ‘pass’ report here.

About Groundsure

Groundsure is a market leading specialist transforming environmental data into location intelligence for the land and property markets. Utilising the latest digital technologies available to enhance the property buying experience for the end user whilst helping lenders to make informed lending decisions.

From 1st April 2018, Land Transaction Tax (LTT) will be replacing Stamp Duty Land Tax (SDLT) in Wales. 

Land Transaction Tax (LTT) submission COMING SOON to tmconvey

To ensure everything is up and running for 1st April 2018, the Welsh Government have chosen to focus their resources on delivering their new direct system for general customer registration. 

Therefore, they will not be in a position to offer system integration with any third parties (including tmconvey) from 1st April 2018. 

However, we’re pleased to say we’re part of a select group of providers working closely with the new Welsh Revenue Authority and actively engaging in a number of workshops with them, as they develop their integration capabilities. 

This means we’ll be one of the first to be able to offer Land Transaction Tax (LTT) integration– and look forward to updating you as and when Land Transaction Tax (LTT) submission is available on tmconvey.

LTT submission will initially only be available through the new Welsh Revenue Authority

As Land Transaction Tax (LTT) submission will initially only be available through the new Welsh Revenue Authority, established to collect and manage Welsh taxes, you won’t be able to electronically submit your tax forms for properties in Wales through any third parties (including tmconvey) until further notice.

However, in the meantime, we’re making some changes to tmconvey to help you through this transition period; 

Instead, when you enter a Welsh postcode into tmconvey, you’ll be alerted that you’ll need to process a LTT submission – instead of an SDLT submission – and be advised to complete your submission directly through the new Welsh Revenue Authority. 

(You’ll also notice a new field on the tmconvey case dashboard, asking you to state which country the property is in.)

Have you registered with the Welsh Revenue Authority yet?

If you haven’t already registered with the new Welsh Revenue Authority to pay Land Transaction Tax (LTT), please visit this website and complete the registration process as soon as possible. 

At the moment, our SDLT calculator will not reflect the new Land Transaction Tax (LTT) price bandings

Please note, the new Land Transaction Tax (LTT) price bandings are not the same as the current Stamp Duty Land Tax (SDLT) bandings – and our SDLT calculator on tmconvey should not be used to perform these calculations for the time being. 

For more information about Land Transaction Tax (LTT) and the changes coming into effect on 1st April 2018, you can visit the new Welsh Revenue Authority’s website here. 

If you have any questions, please contact your Account Manager, or our Helpdesk team on 0844 249 9200 or email helpdesk@tmgroup.co.uk

IMPORTANT: 

• From 1st April 2018, you will not be able to electronically submit your Land Transaction Tax (LTT) forms for properties in Wales through any third parties (including tmconvey) until further notice. 

• SDLT submission for English properties will continue as normal on tmconvey. 

• Please make sure you have registered with the new Welsh Revenue Authority, so you will be able to pay Land Transaction Tax (LTT) for Welsh properties. 

We’ve been advised that a number of Local Authorities will be increasing their LLC1 and CON29 prices on 1st April 2018. 

We are actively communicating with representatives from the various Local Authorities across England and Wales – and can confirm that the following Authorities will be increasing their prices on 1st April 2018:

> Anglesey County Council

> Arun District Council

> Aylesbury Vale District Council

> Barnet London Borough Council

> Bassetlaw District Council

> Bath & North East Somerset District Council

> Blaby District Council

> Bolton Borough Council

> Braintree District Council

> Brent London Borough Council

> Brighton & Hove Council

> Broadland District Council

> Bromsgrove District Council

> Broxtowe Borough Council

> Camden London Borough Council

> Charnwood Borough Council

> Chelmsford Borough Council

> Chiltern District Council

> Colchester Borough Council

> Corby Borough Council

> Cornwall Council

> Cotswold District Council

> Dartford Borough Council

> Denbighshire County Council

> Ealing London Borough Council

> East Hertfordshire Dis Council

> East Northamptonshire District Council

> Epsom & Ewell Borough Council

> Fenland District Council

> Forest Heath District Council

> Guildford Borough Council

> Hammersmith & Fulham London BC

> Harborough District Council

> Harlow District Council

> Harrow London Borough Council

> Hastings Borough Council

> Havering London Borough Council

> Hinckley & Bosworth Borough Council

> Ipswich Borough Council

> Kettering Borough Council

> King's Lynn & W Norfolk Borough Council

> Knowsley Metropolitan Borough Council

> Lambeth London Borough Council

> Leeds City Council

> Lincoln City Council

> Malvern Hills District Council

> Mansfield District Council

> Melton Borough Council

> Merton London Borough Council

> Mid Sussex District Council

> Milton Keynes Council

> Mole Valley District Council

> Monmouthshire County Council

> Newark & Sherwood District Council

> Newcastle-Under-Lyme Borough Council 

> North Dorset District Council

> North Warwickshire Borough Council

> Nottingham City Council

> Oadby & Wigston Borough Council

> Oxford City Council

> Portsmouth City Council

> Reading Borough Council

> Redditch Borough Council

> Ribble Valley Borough Council

> Richmond Upon Thames London Borough Council

> Richmondshire District Council

> Runnymede Borough Council

> Rutland County Council

> Sandwell Met Borough Council

> Selby District Council

> Shropshire Council

> Solihull Met Borough Council

> South Bucks District Council

> Stockton-on-Tees Council

> Stratford-Upon-Avon District Council

> Surrey Heath Borough Council

> Swindon Borough Council

> Tandridge District Council

> Test Valley Borough Council

> Three Rivers District Council

> Tower Hamlets London Borough Council

> Tunbridge Wells Borough Council

> Uttlesford District Council

> Watford Borough Council

> Waverley Borough Council

> Wellingborough Borough Council

> West Berkshire District Council

> West Dorset District Council

> West Lindsey District Council

> West Oxfordshire District Council

> West Somerset District Council

> Weymouth & Portland Borough Council

> Wigan Borough Council

> Winchester City Council

> Windsor & Maidenhead Royal Borough Council

> Woking Borough Council

> Wychavon District Council

> Wycombe District Council

> Wyre Forest District Council

These changes will be implemented automatically on the tmconvey platform, and will be reflected in any new orders placed on or after 1st April 2018. 

We are continuing to monitor the situation and will provide further information as and when it becomes available. 

Want to improve your firm? Talk to Clare Yates! She has over 25 years’ experience in the property industry and is more than happy to share what she knows to help you get the best out of your business. 

Here, she explains how sending regular reassuring emails (even if there is nothing new to report) can help to keep customers happy:

To a customer, no news IS news – and a simple email to say “there’s been no change since last week, but I will continue to chase” can help to reassure them that they haven’t been forgotten. This can help to manage general expectations, as well as avoid unnecessary phone calls to your team and local estate agent. 

Your team can also reassure customers by giving them positive glimpses into the future with informative statements such as:  “By next week, I expect to find out… I’ll be in touch with you by… to give you an update.”

Take a step back…

Why is this so important? According to Home Moving Trends research, 76% of customers value good communication skills when choosing their conveyancer, while 65% also seek out those with a proactive approach. 

Could you be doing more to deliver against your customers’ expectations?

With thanks to Clare Yates, Senior Business Development Manager at tmgroup. 

Got a question? Connect with Clare on LinkedIn.

Want to improve your firm? Talk to Clare Yates! She has over 25 years’ experience in the property industry and is more than happy to share what she knows to help you get the best out of your business. 

Here, she explains how arranging to call a customer back “in the afternoon” could lead to miscommunication and disappointment:

People can have very different definitions of what calling back in the “morning” or “afternoon” means. 

For example, one customer might consider the “afternoon” to be anything from 12 noon through to 4pm – and could have given up on your team calling them back by 4.15pm. Even if your office is open until 5pm. 

Don’t take the risk. Ask your team to always refer to specific time frames (e.g. between 2pm and 4pm) when telling a customer they’re going to call them back – then make sure they follow through. 

Take a step back…

If your team always called back when they said they were going to, would your customers have more confidence in your service and make fewer chasing calls? Could your firm even win new business based on your team’s flawless reliability?

With thanks to Clare Yates, Senior Business Development Manager at tmgroup. 

Got a question? Connect with Clare on LinkedIn.

Shaun Whittaker has been welcomed as Systems Integration Project Manager to further enhance tmconvey’s existing capability to integrate with Case Management Systems (CMS) – and save customers even more time. 

Sharing case details across CMS and tmconvey helps to reduce rekeying 

tmgroup have introduced the new Systems Integration Project Manager position in response to a growing customer need for integration between their Case Management System (CMS) and tmconvey. 

In his new role, Shaun will be creating a more seamless flow of information between Case Management Systems and tmconvey. By being able to share their case details across both platforms, customers will benefit from prepopulated fields and reduced rekeying of information. They will also be able to order searches through tmconvey and have their search results returned directly into their Case Management System (CMS) – instead of manually adding search results against their related case. 

As the new tmconvey platform continues to evolve, this focus on integration will help to create a more efficient conveyancing workflow with an enhanced customer experience and task simplification – helping customers to save even more time in their daily tasks. 

Listening to customers and CMS vendors to fully understand everyone’s needs

Shaun will act as a single point of contact for customers, offering a personal touch and ensuring that their needs can be communicated to the wider business for continuing integration success. He will also be introducing new integration standards as well as extending tmconvey’s current integrations. 

Alongside this, Shaun will be developing relationships with an increasing number of vendors to proactively integrate tmgroup’s services with their CMS solutions, as well as understand their requirements.

Shaun Whittaker, Systems Integration Project Manager at tmgroup comments: 

“Our customers have a need for simplification and automation in everything they do. I’m looking forward to working closely with a number of firms and CMS vendors over the coming months to make sure our integrations truly help to simplify our customers’ processes and save them time.”

Mark Gilbert, Chief Technology Officer at tmgroup comments:

“We’re always listening to our customers in order to align our tmconvey services with their needs. Bringing Shaun into this new dedicated role at tmgroup offers exciting new opportunities for our customers to integrate a wider range of Case Management Systems (CMS) with tmconvey. I’m looking forward to working closely with Shaun over the coming months and seeing this next phase of evolution come to life in our new platform.” 

If you would like to find out more about integrating your Case Management System (CMS) with tmconvey, please contact your Account Manager, or get in touch with our Helpdesk on 0844 249 9200 or helpdesk@tmgroup.co.uk.

Want to improve your firm? Talk to Clare Yates! She has over 25 years’ experience in the property industry and is more than happy to share what she knows to help you get the best out of your business. 

Here, she explains how avoiding negative words such as “unfortunately” can help to keep your customers happy – even if your team do need to deliver bad news: 

Starting a sentence with “Unfortunately…” or “I’m sorry to say…” instantly prepares your customers for disappointment. It can be far more reassuring for your team to avoid these words completely and simply state the issue – before quickly moving onto how to fix it. 

Your team can also try simple language changes to put a positive spin on a situation. For example, “we’re chasing the matter” sounds far more positive and proactive than “we’re waiting to hear back…” 

These tweaks can make a big difference to your customers’ experience (and stress levels), so take a few minutes out of your working day to discuss “happier” language choices with your team – both in emails and phone calls. 

Take a step back…

If your team could put a positive spin on every situation, how would your customers feel about their service experience? Would they be more likely to recommend your firm to their friends and family?

With thanks to Clare Yates, Senior Business Development Manager at tmgroup. 

Got a question? Connect with Clare on LinkedIn.