Search Acumen – the leading conveyancing search provider – has launched its latest product, Portfolio Cloud, which allows conveyancers to conduct searches across entire portfolios through a single interface.
The new product is the first of its kind for the commercial market and allows users to create and manage searches on multiple residential or commercial properties simultaneously.
The cloud-based service, offered on a bureau or DIY basis, is designed for conveyancers acting on behalf of commercial clients, housing associations or professional landlords, and can be easily accessed by multiple users within a firm.
Key benefits for users
Portfolio Cloud reduces conveyancers’ workload on portfolios by cutting the time needed to order multiple searches, improving risk management, and removing the need to manually print and compile individual search reports.
Search Acumen has focussed on making Portfolio Cloud’s technology as user-friendly as possible, giving unprecedented control over searches. Users can set preferences such as automatic hazard alerts, which order relevant searches in areas with identified geographic risks.
A live data link to Land Registry also allows real-time access to all documents associated with the property.
In addition users can set deadlines for their portfolio search results to be returned, allowing Search Acumen’s support team to manage the process on their behalf and address delays or issues with a title automatically – removing the need for users to ‘chase’ for documents.
The service is set to transform the cumbersome process of compiling property information, by automatically building search packs in line with users’ specifications – including the addition of users’ own documents, such as EPC reports or valuation documents, if required – and providing these as a consolidated bundle to a designated email address.
Caroline Robinson, Commercial Real Estate business development manager at Search Acumen, comments:
“Conveyancing searches are increasingly driven by data, and as technology becomes more sophisticated we are able to offer more complex searches and greater control to the conveyancer.
“By linking Portfolio Cloud to the real time Land Registry searches provided by Title Intelligence, we have created a powerful search tool for the commercial market that will save conveyancers time and money.
“We’ve focused on two things – simplicity and convenience. Conveyancers have told us that one of the most time-consuming challenges when working on portfolios is pulling together and collating multiple packs of documents. With Portfolio Cloud, managing bundles of documents has never been easier.
“The availability of big data is opening up enormous opportunities for conveyancers to save time and money on their searches, and Portfolio Cloud is the latest of several new products that Search Acumen is creating to make that possible.”
Lynne Nicholson, head of data products and services at Land Registry, comments:
“By providing electronic access to Land Registry’s data, we’ve made it possible for firms like Search Acumen to create time-saving new products, which make life easier for conveyancers and speed up property transactions.
“When we made our INSPIRE data available to the market, Search Acumen were one of the first companies to grasp the potential of big data with their Title Intelligence product, a great example of a product for the conveyancing market that offers real time interaction with our data.
“New technology and greater use of data are transforming the property industry. Conveyancers and consumers are already seeing the benefits, and there is huge potential for many more products as even more Land Registry data becomes available.”