Figures for 2011 as a whole reveal that remortgage instructions were up 30% on 2010, while purchase instructions increased by 50% over the previous year’s results.
Conveyancing Alliance put the improvement down to a variety of factors including the success of its two broker-specific products, ‘Rapid Remo’ and ‘Convey99’ – both launched last year – and the continued strength and growth of its relationships with estate agents.
It anticipates strong continued growth throughout 2012, particularly in the broker market where it has a number of new initiatives ready to launch over the course of the next few months.
Both the ‘Rapid Remo’ and ‘Convey99’ products are still available to mortgage brokers and advisers.
Harpal Singh, Managing Director of Conveyancing Alliance Ltd, commented:
“These figures are particularly pleasing when we consider the flatness of the overall mortgage and housing market in general. We believe they are indicators of the fact that brokers are shopping around for better value, and want to offer their clients quality and lean pricing when it comes to conveyancing.
"The conveyancing sector has certainly become much more competitive over the past two years as the domination of the larger firms has accelerated. We think the smaller, non-specialist operators in this market are under severe pressure, which is why bigger operators like ourselves are becoming the first port of call for many when it comes to their conveyancing needs.
“Our aims for 2012 are much the same as they were at the start of 2011; that is to offer a quality and price-competitive proposition and to pick up market share with this offering. We are finally starting to see brokers and advisers, in particular, looking seriously at the conveyancing sector as a means to finding another income stream but also to ensure they keep control of their client via their conveyancing.
"This type of diversification and the search for greater control is likely to continue and we therefore have a number of broker-specific plans which we believe will provide great opportunities for the sector – we will be announcing these shortly.”
