The online conveyancing distributor said its website includes the launch of broker-exclusive products, a panel fee that is “a fraction” of its competitor’s charges, payment on exchange rather than completion and all fees on purchase conveyancing – including legal, lender and telegraphic transfer fees – are rolled into one rather than paid separately.
Harpal Singh, managing director of Broker Conveyancing, said: “Our core market is both brokers and estate agents and their needs are very different, therefore we wanted to put a proposition together that was tailored specifically for brokers.
“We also wanted to ensure that brokers knew they had access to a number of features they simply couldn’t access elsewhere which is why we have priced so keenly, developed a specific product range and rewarded brokers for using us.”
Broker Conveyancing said there is an introduction of a £25 loyal bonus automatically built into the proposition. This will be paid to the broker for every completed case for as long as they submit business.
“Brokers might rightly ask where this £25 comes from and the simple answer is that, on the whole, their network or club holds onto this. We however are giving this to the broker which means that with Broker Conveyancing, on average, they are increasing their fee per case by between 15-20%. This puts as much income into the broker’s pocket as we can and should send a signal that we have their best interests at heart.
“Other features such as pay on exchange show that we do not want to make brokers wait for their fees and therefore we have worked with our solicitor firms to put this into place.”
Initially, Broker Conveyancing is launching with five solicitor firms on panel: O’Neill Patient, Ramsdens, Martin Kaye, Shoosmiths and Woodford Stauffer.
