Regulated Local Authority Searches (RLAS) or Personal Local Authority Searches (PLAS), as they are also known, offer your clients, in a lot of instances, a quicker and more cost-effective alternative to Official Local Authority Searches (OLAS). There are however a lot of misconceptions about these searches. Here we look at some of the myths and address them.
1. Lenders wont accept these
This is not true, only a very small minority of Lenders will not accept RLAS/PLAS. Have a look at our Lender List to see a full list of who accepts a Regulated Personal search.
2. They don’t have the same data as an OLAS
All search data comes from the same place and from the same set of records – from the same Departments across the Local Authority. What’s more is that with a RLAS/PLAS whatever Local Authority these searches come from the data format is consistent unlike an OLAS which are different depending on the LA.
3. They aren’t covered by insurance
tmgroup RLAS/PLAS are covered by £10 million insurance. And in the unlikely event of a claim we will handle this directly with your client. The cover for an OLAS varies and believe it or not, some LA’s do not offer any cover at all.
4. Wont they take longer than an OLAS?
Not at all and in many cases they are quicker. With more than 50 highly experienced, trained and employed search agents tmgroup are able to visit most Local Authorities each day and can gather the data required quickly and efficiently.
5. Don’t they cost more than an OLAS?
RLAS/PLAS in a lot of instances are cheaper than an OLAS and with a RLAS/PLAS the same price applies nationwide – rather than varying by council.
If you want to find out more about how ordering a PLAS with tmgroup can benefit you and your clients please get in touch today.