Conveyancing and technology: how the two go hand in hand

The conveyancing market is booming. Proactivity levels have soared by 69% in the past four years, according to data released in July by Search Acumen, even with 11 per cent less conveyancers currently in the market. It’s becoming ever more imperative that those of us still working in the industry can cope with a heavier workload, and continue to make it a success.

As the amount of technology on offer increases, its use in different sectors grows at the same time. Technology in the conveyancing industry has improved as of late, with the rise in technology overall playing its part in enabling conveyancers to not only keep on top of their cases, but to ensure they are completed efficiently and to a high standard.

Conveyancers are, on average, now completing an extra case per week, and technology can be thanked for having a large part in this success. It can be said to be helping improve efficiency, enhancing due diligence and streamlining the processes that must be completed in the conveyancing process. But do you know everything that’s on offer to you to ensure your conveyancing career is a successful one? 

Technology and communication

Communication is incredibly important if you want the conveyancing process to run as smoothly as possible. ConveyancingBrain’s Case Tracking Guide provides an overview of the perfect method of three-way communication, between you, your client and the chosen Solicitor. The ConveyancingBrain team is also able to join in the conversation to move things along, so it can be a four-way conversation if need be.

One of the beauties of the messaging element of the case tracking is that you can also choose whether all parties or just some can see each message. On occasion it may be prudent to simply converse directly with the Solicitor without the need for the Client to view that message, thereby giving you greater control of the communication.

The Purchase Progress log on the case tracking system also shows what stage the case is currently at and helps provide confidence and information as to what activity the Solicitor is undertaking.

With all communication in one place and made simple, you can keep up with your growing workload whilst not compromising on service. The guide explains how to track your cases efficiently, with the system allowing everyone to see case updates 24/7 and alerting all parties when there is an update, request or advance in the case.

Regular updates

The brilliant thing about technology is that it means processes are now instant, and updates more frequent. ConveyancingBrain are committed to making regular updates to the system to make things easier to use and processes more simple to follow, giving you the tools you need to obtain a quote quick and easily, instruct a solicitor and complete a case.

tracking

Automated emails and text messages (if chosen) are sent whenever a Solicitor adds a note to the Case Notes section of any ongoing cases, saving plenty of time as it means you don’t even have to log in to check your messages.

Technology also makes it easier to take on customer feedback and implement any changes to make the user journey a better and smoother one.

One change ConveyancingBrain made recently was making it possible for you to choose whether to disclose the Solicitor’s name on the quote you provide to your client. Technology allows you to choose from different options to make everyone’s conveyancing experience better.

Opportunity for more

With technology comes the ability to offer more for your customers, with the advantages for online offerings ever increasing. Downloadable guides are a handy ConveyancingBrain offering that you can use to offer additional support to your clients.

Whether it’s sharing the 10 Steps to Conveyancing with your client to help them understand the process, information to sell conveyancing to clients, or guides to help you to make the most of the system, there are plenty of free information available to ensure both you and your clients are well equipped to understand the conveyancing process.

Technology is all about making things easier

When it comes to your job, the more streamlined processes are and the easier a system is, the more likely you are to succeed. Coping with an increasing workload sounds difficult, but when you use systems at your disposal, life is made much easier.

A History of Mortgage Brain

We recently celebrated a milestone here at Mortgage Brain as we turned thirty years old. We’d like to think that we’ve aged gracefully, and made the most of our time since 1986, offering our customers the best products possible – and service with a smile.

Where did we come from?

Set up by Peter Nice, Mike Green and Barry Louvel back in the eighties, Mortgage Brain came from humble origins.

Peter built a small sourcing system for his wife, an estate agent, and Mortgage Brain was born. We offered the first sourcing system in the UK mortgage market available to all brokers, and thus started the thriving industry we know today.

Initially, product data and software updates were distributed via disk – sent in the post! It wasn’t all online, automatic and up to the minute as it is today.

Then it all changed…

As Mortgage Brain grew, the three founders decided to sell the company in 2001 to a consortium of lenders and Nationwide, Halifax (now Lloyds Banking Group) and Alliance & Leicester (now Santander) bought the business for £4.8m.

RBS, Northern Rock (now Virgin Money) and Barclays came on board a little later in December 2001, when the turnover was £2M and we had only one product channel – mortgage sourcing.

In an era of paper applications, the lenders who now owned Mortgage Brain were keen to make changes in the market. So, they brought in our CEO, Mark Lofthouse, to develop a trading platform that allowed mortgage applications to be completed, submitted and processed electronically.

Enter Mortgage Trading Exchange, which arrived in 2003, and has gone on to become the largest single delivery channel for mortgage placement in the industry. Today, more than 20% of all mortgage applications from brokers are processed via the platform.

Making waves

Three years later, we bought the Key, a point of sale system. At this time, the system was in its fledgling state following the introduction of MDay. Significant investment and development has led to the Key becoming the most widely used CRM system available with thousands of advisers relying on it to support their businesses on a daily basis.

A History of Mortgage Brain

There is no stopping for us

We then upped our game even further, launching MortgageBrain B2C in 2010, offering the industry’s first app, UKMortgages in 2012, and, a year later, bringing another industry first, iSourceMortgages, an iPad-based sourcing system to the table. To follow shortly in 2014 was MortgageBrain Anywhere, our online sourcing system developed as a solution to the growing demand for flexibility and ability to use multiple devices, and at the same time Mortgage Brain’s original desktop sourcing product was renamed MortgageBrain Classic.

More recently in 2015 we ventured into conveyancing sourcing with a case tracking portal with the launch of ConveyancingBrain – soon after followed by LoansBrain in 2016. The latter is a second charge sourcing website that remains freely available to all, and now in 2017, we have also integrated that functionality into our first charge sourcing systems.

Product accuracy and product data turnaround have always been crucially important to us, and today we continue to lead the field, with 90% of all product data requests from lenders being up and live on our sourcing systems within four hours, and 100% within eight hours. We also continue to adapt and enhance our products to ensure that they offer the latest in technology and support all the latest regulations – we never stand still!

 Ahead of the pack

We have consistently delivered specialist technology solutions ahead of our competitors since we began, and each year invest approximately 40% of our turnover into product development to ensure that you continually get the most out of our systems.

Our employees remain our best asset and the customer services team are on hand to support your queries or answer your question. We also are the only technology company to add an online chat facility to our website to help those who don’t want to pick up the phone. Plus our extensive library of resources to support our products with numerous videos and guides remains the best in our view.

We are very proud of who we are and what we have achieved.

Celebration time…

To celebrate our successful thirty years in business, we held a party in London at the end of April to raise money for a number of charities actively supported either through fundraising or volunteering by one or more of our Mortgage Brain colleagues.

The charities were Alzheimer’s Society, Birmingham Christmas Shelter, Contact the Elderly and Shooting Star Chase a leading children’s hospice charity. So far, we have raised a fantastic £50,245 for our incredible charities.

Here’s to another thirty years – and thirty more after that!

Mortgage Brain’s Christmas Wishes

With only days left to go before Christmas comes around, our CEO Mark Lofthouse outlines his industry-focused present wish list for this year.

Wish 1: Superfast broadband – especially in the UK
In the fast broadband league, the UK sit at a disappointing 19th place, according to an article published in ISP Review in June this year. South Korea lead the way, with broadband a whole 15bps faster than us here in the UK. Mark notes: “We are supposed to be one of the richest nations in the world, with one of the most advanced economies, and yet our broadband speeds are lacking. Governments keep talking about how poor the speeds are, it’s time something was done about it.”

Wish 2: Instant rule changes
Wouldn’t it be amazing that if, whenever a new set of rule was brought in, they were actually put in place instantly? Those of a certain age will remember Samantha Stevens in Bewitched, all she had to do was twitch her nose and voilà! A change would occur instantly. It would be a simpler world if rules were implemented immediately and effortlessly.

Wish 3: Honest and straightforward Advisers
A problem with the financial services industry as a whole for this third wish, following Ipsos Mori’s Veracity Index 2016, outlined the level of trust the public has in each profession and bankers finished sixth bottom. I know that mortgage advisers aren’t bankers, but the financial services industry as a whole still has an image problem. My wish is that in 2017 the FCA doesn’t have to fine a single company. A simple wish, but one which would help the industry massively.

Wish 4: Advisers taking advantage of new markets
Although the mortgage industry is buoyant at present, it won’t always be this way. At some point, the mainstream mortgage market could slow down again… it’s important to diversify now, deliver a broader service to your clients and keep competition at bay.

The protection, second charge, conveyancing and general insurance markets are a number of areas that advisers should be talking to their clients about. There are opportunities out there so don’t wait until your bread and butter work has dried up to go looking for them and deliver a more complete service now.

Wish 5: Everyone taking a step back and calming down
A straightforward request for this Christmas, whatever side of the debate you’re on, our post-Brexit world has been an uncertain one, and the imminent arrival of President Trump hasn’t done much to calm things either. That’s why my final wish is that 2017 be a calmer year, with no more major financial or political upheavals. Is that too much to ask?

A very Merry Christmas and a Happy New Year from everyone here at Mortgage Brain. Let’s hope 2017 will be able to grant Mark his wishes.

Summer Madness at ConveyancingBrain

Introducing Summer Madness: our fantastic loyalty programme over at ConveyancingBrain, which rewards all users of the system with some great prizes.

The programme is our way of saying thanks to those who are using ConveyancingBrain, by offering vouchers for cases that are instructed and then complete, excluding the very first case each month to make it a bit of a challenge.

It started at the beginning of July, and since then plenty of advisors have been taking advantage of this brilliant initiative. So how do you get involved?

It’s really simple.
All you have to do is instruct your first case on ConveyancingBrain, and for all your following cases you can receive £15 worth of Amazon Vouchers.

Your case must complete before you receive your vouchers, but there is no limit on the number of cases you can instruct and complete – so go wild! One advisor did just that: instructing eight cases and earning themselves £105 worth of vouchers in the process.

How does it work?
The counter restarts at the beginning of each month, and your first instructed case each month doesn’t qualify, but every subsequent case does.

Once you have instructed and your second case has completed, just go onto the CB website and enter the details in the competition form and you’ll receive your £15 Amazon voucher. You can then earn an additional £15 voucher for each case thereafter. The number of cases is unlimited, and as long as they complete.

House purchases, as we know and many have experienced, can take a long time. So even if doesn’t complete until June 2017, you can still claim your voucher.

And although you don’t get a voucher for instructing your first case in the Summer Madness campaign, every new customer to ConveyancingBrain, chooses between a nice bottle of wine and a box of chocolates upon instruction of their very first case.

How long have I got?
We’re running our Summer Madness campaign until the end of September, so you still have just under a month to earn some vouchers – alongside your normal commission, of course.

Once you have instructed and completed a case, simply head over to our website and enter the case ID in the form to claim your vouchers. It’s as simple as that.

Remember: this fantastic offer finishes at the end of September and applies to cases that are instructed in July, August and September, which complete before June 2017.

So what are you waiting for? Use ConveyancingBrain today and get started on your voucher quest. How many will you earn?

Summer Madness at ConveyancingBrain

ConveyancingBrain

Introducing ConveyancingBrain – the efficient and smart way for mortgage brokers to earn money from conveyancing!

The market has changed dramatically over the past few years, with 2014 research conducted by YouGov showing that 4 out of 10 customers want access to conveyancing services online.
That’s one of the many reasons why we decided to create ConveyancingBrain; a customer-focused system offered solely for mortgage brokers. It helps customers find a solicitor, that your recommended lender accepts, and who also offers good value for money.

Why conveyancing?
It is proven that the shorter the transaction time, the more likely a property purchase – and therefore a mortgage application – will go through. ConveyancingBrain is an efficient, safe and trusted system that allows for a swift process from beginning to end.
The system is available free of charge, and features a simple registration process offering instant access to conveyancing quotes and ongoing cases.

How does it work?

You can register as a new user on the website in a matter of minutes and begin straight away. You only need to log in once, and you then remain signed in, and can use your account to carry out a variety of different actions, including:
– Generating quotes
– Viewing and saving quotes
– Accessing case progress reports
– Setting default referral fees
– Adding and amending account and bank details
– Viewing all the solicitors on our panel
– Viewing your payment history
– Viewing all messages sent to and received from your clients.

Your customers are able to choose a solicitor according to geography, price and customer satisfaction results. All our solicitors hold Conveyancing Quality Scheme (CQS) accreditations, as well as all being tailored to lender panels.

What are the benefits?
You can earn up to £300 per case, with ten cases a month at a referral fee of £150 each earning you £18,000 a year. The broker fees are also paid directly to you, and you can alter your referral fees on a case-by-case basis.

We offer constant support with any questions and queries you may have, both online and over the phone. In addition, we run free ten-minute webinar sessions every Friday to learn more about how to earn from conveyancing.

You also get a free ConveyancingBrain plug-in for your website in order for you to attract more customers. The plug-in is designed to allow potential clients to obtain quotes, and instruct a conveyancer directly without any intervention from you.

Why ConveyancingBrain?
During the first few months of its general release, over 500 brokers and financial advisors signed up to ConveyancingBrain and began to reap its benefits.

Around 50 brokers per week are now signing up to the new system, which offers brokers a safe and trusted process by which they can earn additional income in a safe, secure and effective way.

For more information about ConveyancingBrain, and to register and begin earning money today, please visit our website at www.conveyancingbrain.co.uk.

Alternatively, you can contact us directly by calling 0371 200 0655 or by emailing info@conveyancingbrain.co.uk.