Conveyancing acknowledges importance of technology
Mplc’s system was launched in January and has seen over 14,000 brokers register for the service. It allows the intermediary to search for a conveyancer, instruct, and then track it all through the online system, as well as gain a fee for relaying the business.
Peter Beaumont, sales and marketing director for Mplc, said: “Every mortgage application needs a conveyancer to be appointed, which gives intermediaries an opportunity to earn additional income on each completed case.”
However, for the wider market, Mplc’s adoption of its On Demand system represents a significant shift towards more technologically-based solutions.
With firms looking to conduct their business quicker, more efficiently and cheaper, technology is seen as playing a big part in this development and for Dominic Toller, director of marketing and new business at LMS, brokers are seeing just the tip of the iceberg.
“The conveyancing market is coming into a period of change and firms are trying different things, such as outsourcing to India, as a way of improving their business. Our approach to this is to use technology and for us, the best way to get ahead is to have the best automated process in place. Technology is vitally important – it has helped to speed up the process, improved our service and reduced our costs so it is definitely the way forward in our opinion.”
“Brokers should be more proactive in using the conveyancing market as it is not a difficult process to use, the broker can make some relatively easy money and we can assure them that they are getting a good service for their client,” he added.