Conveyancing Alliance sees 30% hike in remortgages

Conveyancing Alliance announced today (27 February) that mortgage instructions in 2011 were 30 per cent up on 2010, while purchase instructions increased by 50 per cent over the previous year’s results.

The online conveyancing distributor 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 anticipated 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.

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Harpal Singh, managing director of Conveyancing Alliance, said the figures were “particularly pleasing” considering the “flatness” of the overall mortgage and housing market in general.

He said: “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.”