Gazeal becomes licensed by the Law Society to provide upfront information

Gazeal Limited, the leader in the provision of upfront information about properties listed, and Reservation Agreements to secure their sale on offer, are delighted to announce that they have agreed terms with the Law Society of England and Wales for them to be a licensed provider.

Gazeal ask sellers to provide information about the property for sale on listing, make it available to the buyer before offer, and provide it to each party’s conveyancers on acceptance.

Gazeal are now directly licensed by the Law Society to use this information to populate the Protocol Forms needed for the Solicitor’s Contract Pack. This saves, on average, two weeks in the time to be ready for Exchange, but, when combined with their Reservation Agreement, cuts the percentage of cases that fail to Exchange from 33% to 3%.

Neither party is required to put down a deposit on signing the Reservation Agreement, as Gazeal guarantee each party’s commitment to the other, making it simple and fast to implement.

Duncan Samuel, Executive Chairman of Gazeal, said: “We at Gazeal are delighted to be working directly with the Law Society. The provision of information that is of vital importance to a transaction up front is key to ensuring both speed and trust in the other party.”

“The information mandated by the Law Society is accepted as being the gold standard that all conveyancing professionals, no matter who their regulator is, will rely, and is central to all mortgage lending decisions. By working directly with the Law Society we aim to be even more pro-active in ensuring transparency, trust and speed.”

Andrew Moroney, Commercial Proposition Manager at the Law Society, commented: “The Law Society is committed to working with parties who seek to increase transparency and reduce the fall through rate, while both protecting consumers and enhancing their experience of the legal services they receive, and for this reason we are very pleased that to have appointed Gazeal a Licensed Provider, and look forward to working with them going forward.”