A self styled homebuying platform and challenger portal has claimed it has succeeded in cutting transaction times in half following a year-long express conveyancing trial.
OneDome describes itself as “a digital platform for property transactions that enables home buyers and sellers to conduct end-to-end property transactions online.” The trial saw average transaction times reduced to 7.1 weeks, against the national average of 15.6 weeks by seconding a dedicated team of conveyancers from a law firm to work exclusively on OneDome matters. The conveyancers worked alongside the mortgage advisers and property moving assistants to facilitate the progress of cases, with case volumes capped to ensure “unwavering service standards and a commitment to excellence” according to founder and CEO Babek Ismayil.
The service, which it describes as “similar to Amazon Prime” is managed through a combination of its
“DealRoom technology and a team a sales progressors known as Property Moving Assistants, whose role is to monitor the transaction from start to finish, facilitating communication between home buyers, sellers, and all professionals involved in a transaction.”
The company says it is the only provider of the complete range of services required to move home; providing a user experience “close to e-commerce.” Launched in 2016 as a transaction hub, in 2019, OneDome acquired Nethouseprices Ltd; in 2022, it acquired Contractor Wealth Management Limited, a financial services firm, part of Quilter Plc; and this year, OneDome acquired CMME Mortgage and Protection Limited from Livingbridge PE firm and is in the process of acquiring two more according to Ismayil.
Earlier this year, OneDome launched the HomeBuyer Service (HBS), bundling together all the services needed to buy a property into one service at a fixed price of £999.
2 Responses
Shouldn’t this be marked as an advertisement?
So they are using “Property Moving Assistants” as layers to keep the price down? Or do the PMA’s just make repeated phone calls asking for updates without actually adding anything to the process?
And presumably everyone in the chain needs to use OneDome to achieve this?
How many transactions were in the trial? It’s easy to cherry pick cases with a first time buyer buying a probate property for a trial, but with a “normal” chain? You can’t guarantee how long a transaction will take.