SALES at PSM Direct, the internet-based Scottish law firm, have risen by 24 per cent in the first quarter, compared with the same period last year.
The firm, which today changes its name to Your Conveyancer, uses online systems to speed up the selling of houses.
In the first three months of the year, the number of new instructions received by the firm stood at 5,426, compared with 4,113 in th
e first three months of 2007. The number of cases completed rose by 17 per cent.
Profits in the first quarter also lifted 11 per cent, on the back of a 6.7 per cent jump in turnover.
The company – which lists Abbey, Halifax and Nationwide among its clients – yesterday announced plans to invest a further £150,000 in its systems.
Kyle Peddie, chief executive of Your Conveyancer, said: "Our growth in the first quarter of this year is thanks to our investment in technology, which has made our business much more capable of handling a higher volume of transactions more effectively and efficiently.
"Despite the downturn in the economy, the number of transactions we are processing – particularly in re-mortgage business – is well up on previous months, as consumers look for better offers and move on from long-term fixed-price deals."
Your Conveyancer has 88 staff, split between its Dunfermline headquarters and a Glasgow office, which opened in 2006.
The firm was founded in 1990 as Peddie Smith Maloco, a traditional legal practice, but later specialised in conveyancing.
Your Conveyancer plans to introduce a more advanced, online system to allow lenders, other institutional clients and their customers to track cases online.
The full article contains 281 words and appears in The Scotsman newspaper.
