'Accelerated sales' promised as conveyancing network ...

A leading conveyancing network that works closely with estate agents has signed up to property blockchain platform Coadjute.

The blockchain technology provided by Coadjute links the existing software used by conveyancers, estate agents, mortgage brokers and lenders to enable a smoother transaction.

It will now be used by Dorset-based Team Property Services (TPS).

The partnership means Coadjute’s blockchain network will support sales managed by hundreds of independent estate agencies and law firms that TPS works with.

Craig Campbell, managing director at TPS, says: “This is one of the most far-reaching technological advances I have ever encountered in our market sector.

“I am therefore delighted to announce that we have been able to partner with Coadjute and, over the coming months, we will be rolling out their blockchain technology across our expanding network of estate agents and conveyancing firms.”

Steve Dawkins, chief relationship officer at Coadjute, says this collaboration will provide an accelerated sales process with significantly less administration.

He says: “Our encrypted network will enable agents and lawyers to securely share information with ease and provide even greater transparency and efficiency for their customers. We are extremely proud to welcome TPS to the rapidly expanding Coadjute community.

“We are in the midst of rolling out the Coadjute network to conveyancers, estate agents and brokers throughout the UK, enabling them to work together from within their existing systems and TPS will further accelerate this process, producing tangible benefits across the profession.”

Coadjute is using funds secured from a £6m investment funding round led by Manchester-based Praetura Venture to expand sales and marketing activities and its operational team, bringing mortgage brokers and lenders onto the network, and introducing new services such as the movement of digital identities, mortgage funds and property titles over the network.