A chain matrix-style online portal and an updated conveyancing protocol are among measures outlined in a Law Society consultation published today to improve the home-buying and selling process.

The electronic conveyancing portal will enable parties to track the progress of their transaction. Unlike the scheme trialled by the Land Registry's chain matrix, parties will not initially be able to see the stage reached by other parties in the chain.

The Society suggests its that bespoke conveyancing forms and protocols should be updated to cover changes to the regulations in relation to home information packs and Registry requirements. The new ‘TransAction Plus’ documents and procedures would be available to all who sign up to a proposed new membership scheme.

The consultation reviews the way in which some elements of the conveyancing process work, and explores moving away from the principle of caveat emptor or ‘let the buyer beware’.

The consultation also covers the provision of estate agency services alongside conveyancing services, and developing ways to help solicitors play their role in combating fraud and identity theft.

Law Society president Paul Marsh said: ‘It is essential to the security and smooth operational working of the home-buying and selling process that solicitors remain at the heart of residential conveyancing. Building on the high standards of solicitors, embracing technology and moving ahead of the times will help to achieve that aim.’

‘It is important that we build upon the services provided by the profession in residential conveyancing, and challenge some basic assumptions, while continuing to ensure that consumers have access to the integrity and expertise that underpin the whole process,’ said Marsh.

He said the profession should continue to shape the future of the home-buying and selling process by embracing the opportunity to develop new solutions to help consumers.

‘There are challenging questions for the profession. We urge all conveyancing solicitors to utilise their wide experience to join in this debate,’ said Marsh.

The consultation ends on 18 September 2009 and will be available on the Law Society website later today.