Blog post by Andrew Gilchrist, communications officer here at RoS.
Since its full launch in May, our Digital Discharge Service (DDS) has continued to prove popular with solicitors and lenders alike. Here we’ll showcase how DDS helps reduce rejected applications, and also highlight some of the new features we’ve introduced since launch.
Compared with the paper discharge process, DDS considerably reduces the likelihood of a discharge application being rejected. DDS is entirely digital, so there’s no need to complete the usual paper application form or draw up a deed. Plus, with all steps of the discharge process in one online portal, there’s no forgetting deeds or missing signatures.
DDS links directly with RoS data systems, meaning that the majority of the application information is pre-populated – what’s on the title goes on the application. It also makes for much less manual data entry for both solicitors and lenders.
But don’t just take our word for it – the numbers speak for themselves. We’re now several months into the service being fully live, with months of beta before that, and DDS currently has an application acceptance rate of 99.5 per cent.
New features of DDS
A 99.5 per cent acceptance rate is certainly impressive, but we’re looking to get this as close to 100 per cent as possible. All rejections so far have been as a result of duplicate applications being submitted, as we’ve introduced a new functionality that will auto-decline a discharge request before submission if the security is already discharged.
This situation can arise if a security is discharged (e.g. by a paper discharge application) after a discharge request has been created by a solicitor and before it is submitted to RoS by the lender. Now, the system will auto-decline the discharge when the lender attempts to approve it, with the lender receiving a confirmation as well. This means that no application is submitted to RoS, so there’s no accompanying rejection fees either.
Based on feedback from our customers, we’ve also added the ability to better manage the main DDS dashboard. For example, users can now remove submitted or registered applications from the list of current applications on the dashboard; this doesn’t stop the application, but simply removes it from the workbook.
Want to find more about DDS? Then simply visit the dedicated DDS page of our website.
Find out more!