Following on from growing numbers in the first two quarters of 2009, Conveyancing Alliance has recently seen a 30% month-on-month increase in purchase instructions from July to August. The level of remortgage instruction continues be at low levels, however this has also improved slightly since earlier in the year.
The firm believes this sustained increase in purchase activity represents an ongoing opportunity and urges advisers to maintain their marketing push for the growing number of first-time buyers/home movers looking to purchase in today’s market.
To capitalise on this increase and to also allow larger adviser firms more control over the conveyancing instructions of their sales force, Conveyancing Alliance is now actively creating bespoke white-label solutions for individual businesses.
Harpal Singh, managing director of Conveyancing Alliance Ltd, commented: “Continuing our theme of 2009 so far, house purchase continues to rise and represents the largest chunk of the market at present. Our 30% month-on-month increase from July to August also shows this is likely to be maintained for the rest of the year. Remortgage instructions have ticked up slightly but only from very low levels and we are therefore suggesting that advisers continue to focus and concentrate on those first-time buyers and home movers who are purchasing that are slowly coming back to the market. Bringing this purchase business into an adviser’s business continues to be the key opportunity in the mortgage market at present. But advisers must also remember to maximise all revenue streams when they gain these clients. In the past, the conveyancing opportunity has often been overlooked.
“Our commitment to helping brokers get the most out of their conveyancing has resulted in us helping some of the larger advisory firms with a bespoke white-label technological solution for their own sales forces. Revenue from conveyancing instructions can be significant if all the firm’s advisers work in tandem; this system ensures total control over the generation of revenue and an increased share of that revenue. We are confident that a significant number of advisory firms will benefit from such a solution and that, for the larger firms in particular, this will be a vital part of their future business expansion.”
