Leicester-based Conveyancing industry giant MyHomeMove just got bigger following its purchase of rival Advantage Property Lawyers, based in Leeds.
MyHomeMove, which claims to be the largest conveyancing services firm in the UK and has relationships with all the key corporate and many independent estate agents, says the two businesses will now employ 1,000 people.
The company says the acquisition will double its volume of completions from 50,000 a year to 100,000 or 3 per cent of the market.
Its nearest rivals are Countrywide Conveyancing Services, part of the Countrywide Plc group and O’Neil Patient. All three companies are competing within a market that’s both fragmented, featuring 4,000 players, but also experiencing increased demand.
The conveyancing market expanded by five per cent year-on-year during 2016 to a record high of 1,077,959 completions, according to consultant Search Acumen.
“We acquired APL because of their size, reputation and long standing relationships with a number of significant introducers, which will complement our own strengths,” says Doug Crawford, CEO of MyHomeMove (pictured, above left).
“APL is a superb brand managed by a strong team who I look forward to working alongside as we continue to revolutionise the customer experience of conveyancing through further investment in people, processes and innovative technology.”
MyHomeMove last week launched a voice recognition system for its consumer customers to enable them to speak to its team on the phone without having to go through lengthy verification processes each time.
Stephen Coupland, Head of Sales and Marketing at Advantage Property Lawyers said, “We are delighted to have joined the My Home Move family, a change that will allow us to continue our growth in Leeds while, over time, building on our existing approach to tap in to some of the exceptional technology platforms that My Home Move has built for its clients and introducers.
“Above all, My Home Move and Advantage share a passion for efficient, client delighting conveyancing and we look forward to playing our part in the continued growth and success of the combined business.”