Movera, Connells Group and iamproperty Group have logged a completion time of just three days in an auction transaction, beating the home-moving partnership’s previous record of 11 days.
The three day timescale was recorded between receiving the draft contract pack and completion, in a property purchased through the iamsold Auction.
The service is available to Connells Group customers buying a property through iamsold. ONP, part of Movera, and Medway Law, part of iamproperty, provide the conveyancing services for the transaction.
Each of the partners works collaboratively with a series of custom-built processes, with the speed and efficiency of the arrangement hinging on the relationship between the two conveyancing parties, the partners said in a statement.
“This consistency has enabled strong relationships to develop between the two teams and ensured both parties are working together efficiently and with the customer’s best interests in mind.”
Although the service is currently limited to Connells Group auction customers, the partners plan to roll it out more widely, with Connells Group leading the way with a trial on its private treaty Home Conveyancing Panel.
“This partnership is a brilliant example of how much control the leading players in the industry have over the property transaction process,” said Nick Hale, CEO at Movera.
“It also highlights the impact that investing in the right people and technology can make to the home moving journey. While we embrace the government’s proposal to speed up the housing market using digital tools and upfront data sharing, we can’t just sit back and wait for the sector to change around us. As a collective we are already innovating and achieving outstanding results for our customers.”
Jean Coughlan, home conveyancing director at Connells Group said, the partners “picked apart” the conveyancing process when they began planning the service 18 months ago.
“We mapped out at a truly granular level the vendor journey, the buyer journey and the different case touch points. It was something we had tried to do before, but this time we had the right people in the room, with a shared commitment to collaboration and using digital solutions to change the home moving process for our customers. The results speak for themselves.”
Julian Lavender is corporate accounts director at iamproperty. He said:
“For our conveyancing business, a lack of communication with the other conveyancing firm on a case has always been our biggest pain point. This partnership with Movera and Connells has changed everything.
“Now, on each transaction, we have two conveyancers working together, talking to each other, problem solving. As a pair they are building a relationship across brands with a commitment to work as one. Not only has it revolutionised the process, but we have people queuing up to work on those teams. It just goes to show that by combining the right technology, processes and people with a shared mindset, we can really make a difference to the home moving process.”
Since the partnership was formed, the teams have completed 614 cases with an average time of 47 days between receipt of the draft contract pack and completion. The average time to complete in the whole of the UK housing market is 205 days, according to the latest data from TwentyEA.
One Response
Nice attempt at spin, but ONP and Connells Group panel conveyancers are part of the problem in the industry, they are not the solution.