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Exit strategy | 15
which included additional areas such as help and
advice, face-to-face contact and reciprocal
business.
unique position at the centre of the transaction
Speed to help encourage all others in the chain, be they Time
Whilst there are no real surprises amidst the the client, estate agent, lender or conveyancer to As highlighted in the TMA research, time
research it does underline that when it comes to work at their optimum level to ensure the continues to come at a premium in the world of
conveyancing speed is certainly of the essence purchaser can benefit. It is important that conveyancing and the increased integration of
and when combined with good service this can brokers don’t underestimate their role and if technology has certainly helped this process.
provide a valuable tool in any mortgage they fully realise the benefits they can offer can Having access to an online presence will
intermediary’s armory. This demonstrates the even use this as a great marketing tool. inevitably result in brokers and their clients
importance of brokers choosing their A recent article from one of our conveyancing being in a position to track individual cases 24/7.
conveyancing partners wisely in order to ensure partners CAL highlighted how brokers can This has also resulted in conveyancers having
that their client’s needs are best served. utilise wider-ranging influencing factors to help nowhere to hide if they are not performing and
Looking at further research papers, towards market their business and capitalise on good slowing the process down.
the back end of the summer the Solicitors quality conveyancing options. In this particular Brokers who have yet to embrace technology
Regulation Authority (SRA) released some case CAL urged brokers to use the impending could be in danger of being left behind by some
survey results which suggest that a large majority Stamp Duty deadline to market their services to of their competitors. A strong online presence
of consumers who have used a solicitor in the potential purchasers who may be considering enables firms of all sizes to tap into the large and
past five years are satisfied with the service they buying but are unaware of the advantages of ever growing market of web-savvy consumers.
received. Eighty-three per cent of those surveyed completing before the end of the year. Offering online solutions, alongside offline ones,
reported that they were either very satisfied or Following Government action earlier in the provides brokers with the greater ability to
fairly satisfied with they service received. year, the nil band for stamp duty has been service a far wider spectrum of their client base.
Of those who responded that they were, in extended for property purchased up to £175k. This is an avenue that brokers can ill afford to
some way, dissatisfied, time taken was the most With just a few months remaining before the nil ignore.
common complaint (55%), followed by lack of band stamp duty threshold returns to £125k, As the housing market shows promising signs
communications (40%). This underlines the many purchasers looking to buy a property of recovery, having a relationship with a top
importance of the role brokers can play in below £175k could make a sizeable saving if they quality conveyancing proposition is a must to
helping to keep control of the various parties are able to complete before the deadline. While help boost valuable revenue streams. Setting up
involved in transactions and reporting back on a saving of between £1,250 and £1,750 may such a relationship will not only enable brokers
progress. Maintaining a presence in all aspects of appear small in the context of a much larger to earn good additional income but will also
the chain, not simply sourcing the original purchase price, this still represents a considerable provide a necessary and valuable service for their
mortgage deal and letting clients fend for saving for any purchaser. However, with deals clients. Support is out there and by utilising the
themselves, will certainly help strengthen taking on average three months to complete, benefits of a mortgage club, directly authorised
relationships and boost retention levels. time is running out before the end of December brokers can rest assured in the fact that they can
and therefore it is up to all parts of the chain to access market leading propositions that have
Unique position ensure the process works as efficiently as passed a test of due diligence to ensure overall
As highlighted, mortgage advisers are in a possible. service is as efficient as possible.
www.mortgageintroducer.com November 2009 Mortgage Introducer
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