My Home Move confirms substantial growth in 2012 through volume increases and housing market improvementSeptember 18, 2013
My Home Move, the leading provider of mover conveyancing services in the UK has announced its strongest ever results; following a period of sustained growth and an EBITDA increase of 41% (2011 vs. 2012).
The company which began trading in 2001, has grown significantly over the past twelve months having increased its employee levels by 20%. Last year it completed circa 30,000 transactions (an increase of 13.5% on 2011), thanks to investments in new technology and operational efficiency. By strengthening its infrastructure, the company capitalised on the upturn in the property sector, resulting in profitable growth.
In 2012 the housing market began to stabilise, following the launch of the Government’s Funding for Lending and NewBuy schemes, coupled with the ready availability of Buy-to-Let mortgages. The year ended with house prices increasing by 3.4% and My Home Move, through its wholly-owned subsidiary, Premier Property Lawyers, being named as the UK’s largest provider of mover conveyancing services (HMLR data).
Financial Highlights 2012:
- EBITDA £3.36m (+ 41%)
- Transactional volume 29,513 (+ 13.5%)
Doug Crawford, CEO of My Home Move said, “These results reflect the hard work and dedication of everyone at My Home Move. Whilst 2012 ended on a high, with house prices up by 3.4%, it was still a tough twelve months for those working in the sector. It was our ability to respond to the changing market, due to our early investment in our staff, new technology and customer service practices which led to our success.”
Operational Highlights 2011/2012:
- Appointed Doug Crawford as CEO in April 2012 and Dev Malle as Group Sales Director in November 2012.
- Increased its staffing levels across operations and administration by 20%
- Refocused the culture of the company on delivering a personal, trusted and values based conveyancing service.
- Invested in new technology so clients can read, review and action their conveyancing files online; in turn helping to speed up the conveyancing process.
- Increased its transactional volumes by 13.5% in twelve months.
- Developed its CPD accredited Learning & Development Academy; to ensure its conveyancers deliver excellent and technically accurate conveyancing
- Recognised by Mortgage Finance Gazette, Sunday Times Estate Agency Events and FT Innovative Lawyers Award for its conveyancing service.
- An average of 94% client satisfaction results achieved.
Continuing Doug said, “We have now laid the foundation for the next phase of My Home Move’s expansion. Over the next three years we aim to treble our transaction volumes by expanding our introducer network, diversifying our services and investing in our staff. We are keen to plough our profits back into our business, to ensure our future is sustainable.”
For more information on My Home Move, please visit http://www.myhomemove.com/