ULS Technology, John Charcol to launch new platform

Conveyancing and financial intermediary platform provider ULS Technology celebrated the launch of a new partnership on Thursday, as independent mortgage firm John Charcol prepared to launch a new conveyancing service built on ULS products.

The AIM-traded company said the new platform - dubbed John Charcol Legal and built on the ULS eConveyancer platform - will see it receive a fee for each completed transaction.

It comprises ten law firms across England, Wales, Scotland and Northern Ireland, which will be rated against one another based upon their service, price and proximity to each customer.

The company’s board said that an additional ‘tailored service’ rating will be applied as a minimum standard, whereby if any participating firm’s rating falls beneath a predetermined level, they will be replaced by another law firm.

ULS said the new service offered by John Charcol’s mortgage advisors, who are expected to write £2bn in new mortgages in 2016, is designed to save customers time and money, and improve their home moving experience.

“John Charcol has given ULS the opportunity to grow something special for them that can really make a difference to the overall experience that their advisers' mortgage customers receive, and I'm excited that ULS has been awarded this opportunity,” said ULS Technology CEO Ben Thompson.

“John Charcol has an outstanding and famous heritage, and we are delighted to have been given the opportunity to grow their conveyancing business with them, and subsequently our overall new business volumes.”

The service is expected to launch imminently, and will be rolled out to 115 mortgage advisers.

Shares in ULS Technology were up in Thursday trading, last adding 2.17% to 70.5p.