subject: Conveyancing Firm To Help Lawyers [print this page] In an attempt to help the conveyancing sector withstand the financial downturn, a conveyancing group has launched a new tool.
The organisation has set up a new white label offering for medium to large intermediary firms who want to gain an increased income from their conveyancing instructions.
The system allows companies to operate their own online conveyancing platform and guarantees all advisers have access to a selection of the best conveyancers.
The system comes with a number of key factors such as the integrated platform for automated commission payments, bespoke management information (MI), quotes and instructions and real-time case tracking, but it can also be developed to provide a bespoke offering for each individual company.
Managing director of the group, Harpal Singh, said many advisers are losing income over conveyancing instructions.
He said: We believe that many firms are losing valuable income when it comes to conveyancing instructions and by opting for a white-label version of our system they will not only be gaining full control over their conveyancing but they will be benefiting from a sizeable potential increase in income.
He pointed out: The system comes with a number of core, cutting-edge parts however we work with each firm to develop the conveyancing offering they want and need.
Therefore, we can provide a firm with their own unique solicitor's panel while delivering complete flexibility when it comes to a pricing structure.
Mr Singh said the white label offering would put advisory businesses in control of their own systems and allow them to set up their own pricing structure.
He furthered: It will also allow firms to expand both their brand and reach and provides a valuable asset to help both individual advisers and their clients.
We are already in discussions with a number of interested parties and believe many more firms would benefit from such a system.
Brokers prefer doing their own work
In similar news, it has been revealed that 83% of brokers would prefer to make their own conveyancing arrangements on behalf of their customers, than be forced to use lender panel solicitors.
A solicitors group launched a nationwide survey and found that amongst 450 mortgage brokers, 83% stated they would rather do the work themselves, due to panel lawyers services being average or poor. At the top of the complaints list was difficulties making contact with fee earners, lack of information and poor communication.
Eddie Goldsmith, Senior Partner at the legal firm which held the study, said: Given the abysmal rating awarded to lender panel solicitors, its hardly surprising that the overwhelming majority of brokers prefer to make their own conveyancing arrangements using lender cashback facilities.
The good news is that in most instances lenders do provide a cashback alternative allowing brokers to appoint a conveyancer on behalf of their clients.
These arrangements not only enable brokers to ensure their clients receive a fast and reliable conveyancing service, but brokers also receive a fee for the referral and are kept informed about the progress of their clients case. Neither brokers nor borrowers need accept a service which our research shows is second-class.
