Conveyancing Firm Reports Sales Rise

Scotland’s largest firm of conveyancers has reported a 24% increase in new instructions for residential sales, purchases and remortgages for the first quarter of 2008 compared to the same period last year.

The figures have been released by Your Conveyancer, formerly known as PSM Direct, to coincide with the announcement of its new name and following a further £150,000 investment in its technology development programme.

Your Conveyancer, whose clients include Nationwide, Abbey and HBOS, also reports that the number of cases completed during the first quarter has increased by 17% compared to the first quarter of 2007. This activity has resulted in turnover for the first quarter of 2008 up 6.7% with an 11% increase in profit.

Company co-founder and Chief Executive Kyle Peddie, said:

“Our growth in the first quarter of this year is thanks to our investment in technology which has made our business much more capable of handling a higher volume of transactions more effectively and efficiently.

“Despite the downturn in the economy, the number of transactions we are processing - particularly in remortgage business - is well up on previous months, as consumers look for better offers and move on from long term fixed price deals.

“From 1st July, the company will be known as Your Conveyancer – a name that communicates exactly what our business is all about. It is an exciting time as we drive the business forward, and attract a broader client base across the UK through our investment in online technology. This will ensure we have a secure foundation to handle a significant increase in conveyancing business over the next few years. In the coming months, we will also be launching some innovative new products to the market place.”

Your Conveyancer will differentiate itself in the marketplace with the launch of new, more advanced, online systems enabling lenders, other institutional clients and their customers to track cases online and obtain other online services via a secure file share.

PSM Direct originally set up as a traditional law firm until the company’s investment in cutting edge IT in the nineties led to it specialising in conveyancing. Your Conveyancer is unique in the Scottish market place in the way that it utilises technology to deliver its services.