Broker Conveyancing see 13% increase in transactions in just one month

Broker Conveyancing see 13% increase in transactions in just one month

This month’s figures from Broker Conveyancing show continued growth within the business, despite the apparent slowdown in the property market. Reflecting what has also been reported by LSL of recent, this demonstrates a positive outlook for conveyancing firms and professionals.

Broker-focussed conveyancing distributor, Broker Conveyancing, have released transaction and remortgage instruction figures that show the company has continually expanded.

The transaction instruction statistics, which include both buying and selling, have increased by 13% in just one month between September and October 2014.

During the same period, remortgage instructions have gone up by 6%, meaning an overall rise of 11% within all instructions.

The level of remortgage instructions in comparison to transactions is actually reducing, and now makes up around 31% of the business according to the report.

Broker Conveyancing claim their overall growth is mainly due to a growing client base that is using their services on a regular basis.

The recent data shows registrations have exceeded 1,200 last month. There are also on 15 new sign ups on average every week and the number of users has surged by 35% from September to October.

Managing Director of Broker Conveyancing, Harpal Singh states that before the release of the Mortgage Market Review, the housing market was strong. However since then, limited affordability and regulatory constraints have made mortgages more difficult to access. He says it is therefore encouraging to see a continual rise in instruction numbers.

Mr Singh has put the surge in business activity is down to the volume of new brokers using the system. Through promotion at recent expositions, the business has successfully demonstrated to brokers how Broker Conveyancing can enhance their conveyancing service offering, with minimal input.

According to Mr Singh the focus will remain on establishing relationships with brokers using the expanding support team within the business.

Has your conveyancing service offering seen a lift since the end of summer? What are the key actions that can be taken to keep business flourishing?

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