Broker registration numbers were up three-fold in quarter two compared to quarter one, with the business seeing a new broker submitting business every single day throughout the period. Of those new users who registered during quarter two, 70% have now used the service at least once.
The amount of referral fee broker users receive per case has also risen since the launch of the new conveyancing portal last year. The average referral fee throughout 2012 was £150 but during 2013 this has risen to £175.
Broker Conveyancing anticipates its user numbers will continue to increase throughout the rest of 2013 given the further positive outlook for the mortgage and housing markets, and the understanding that using the service ensures strong income levels.
Harpal Singh, Managing Director of Broker Conveyancing, commented:
“As a relatively new brand - barely a year old - we anticipated a growing user base throughout our first twelve months; however our new registration numbers saw a noticeable improvement during quarter two. However, the fact more brokers are registered to use the site does not always translate into a rise in business levels but we’re pleased to report that nearly three-quarters of those who registered between April and June have already used the portal to submit business. Our anticipation is that the mortgage and housing market improvement we have seen in the past few months will translate into both increased levels of registered brokers and actual users."
