Broker Conveyancing is celebrating its two-year anniversary after opening for business in the summer of 2012.
The firm was launched to meet the conveyancing needs of brokers and their clients. It offers low panel fees, an all-inclusive fee structure, ‘no completion – no fee’ arrangement, and ‘fall through protection’ on searches.
At launch it also offered broker users a £25 per case loyalty bonus and, to mark the first two years of trading, Broker Conveyancing has now agreed to continue this promotion for all new and existing users.
The business now receives over 600 new instructions via the portal per month and 10 new brokers a week use the service for the first time. Broker Conveyancing recently announced it had seen its total number of instructions increase by 30% in quarter two over quarter one, with a 32% increase in purchase instructions and remortgage business improving by 25%.
It put this improvement down to an increase in broker registrations and users rather than any significant market improvement. Broker Conveyancing has seen a 53% quarter-on-quarter increase in registrations.
Harpal Singh (pictured), managing director of Broker Conveyancing, said: “It is very pleasing to reach the second birthday of Broker Conveyancing particularly given the very positive reaction we’ve had to the business and the proposition from the broker community.
“This was a business launched in a very different time and over the past two years we have seen mortgage and housing market activity improve considerably. However, brokers know only too well that they need to maximise all their business opportunities regardless of how their core mortgage advice work is going. This is why we continue to bang the drum and urge brokers to add the conveyancing string to their bow in order to make sure they keep control of the client and the process.
“Our broker user numbers continue to increase and, unsurprisingly, our instruction levels are also growing strongly. Feedback to our proposition often focuses on the £25 loyalty bonus fee we give to brokers for each case and we are therefore marking our second birthday by continuing with this promotion indefinitely. Our roster of solicitor firms on the panel has also grown since launch as we seek to ensure there are no capacity issues for our broker users and their clients. We will continue to add quality conveyancers to the panel and there will be further announcements on this in due course. Broker Conveyancing would like to thank all our stakeholders for their support in the past two years and we will be working hard to ensure further success for everyone in the months and years ahead.”
