Conveyancing Alliance Group has launched Broker Conveyancing, a new broker-focused proposition and website.
The move follows the launch last year of Conveyancing Alliance’s broker-only products, the ‘Rapid Remo’ and ‘Convey99’. It offers a range of conveyancing products exclusively aimed at the broker market. They cover purchase, sales, remortgage and cash back remortgage.
Conveyancing Alliance claims its research shows that its product pricing is the “keenest” in the marketplace due to the fact its panel fee is now a fraction of what its competitors’ charge. The solicitors’ fee is not comprised within this pricing.
A £25 loyal bonus is automatically built into the proposition. Whereas many brokers accessing conveyancing through their network or club would never see this payment as it is kept by the distributor Broker Conveyancing will be paying it to the broker for every completed case for as long as the broker submits business.
Conveyancing Alliance also claims that Broker Conveyancing is the first in the marketplace to pay the broker on property exchange rather than completion.
In addition, with Broker Conveyancing no legal fees are charged if the property transaction does not complete. If, for whatever reason, the property deal falls through, brokers’ clients will also have their next set of searches provided free of charge.
Initially Broker Conveyancing is launching with five solicitor firms on panel: O’Neill Patient, Ramsdens, Martin Kaye, Shoosmiths and Woodford Stauffer. Brokers can register for Broker Conveyancing immediately and only need their FSA Authorisation to be able to do so.
“The launch of Broker Conveyancing represents a significant moment for the business and our overall product offering to this distribution group,” said Harpal Singh, managing director of Broker Conveyancing.
“Our core market is both brokers and estate agents and their needs are very different therefore we wanted to put a proposition together that was tailored specifically for brokers. With Broker Conveyancing we also wanted to ensure that brokers knew they had access to a number of features they simply couldn’t access elsewhere which is why we have priced so keenly, developed a specific product range and rewarded brokers for using us.
“We certainly believe that, at this time, we are not being beaten on price by any of our competitors and, on top of this, we are awarding a loyalty bonus to brokers for every single piece of business that completes with us. Brokers might rightly ask where this £25 comes from and the simple answer is that, on the whole, their network or club holds onto this. We however are giving this to the broker which means that with Broker Conveyancing, on average, they are increasing their fee per case by between 15-20%. This puts as much income into the broker’s pocket as we can and should send a signal that we have their best interests at heart. Other features such as pay on exchange show that we do not want to make brokers wait for their fees and therefore we have worked with our solicitor firms to put this into place.”