Property Developer: Supporting £160m of customer transactions
Transactions taking over 3 months
25% cancellation rates
>10% value leakage
Poor customer experience
A major UK property developer was becoming increasingly impacted by the effects of property chains. A quarter of customers in chains were cancelling purchases, and remaining transactions were taking months to complete. The business had begun providing part exchange facilities through a mixture of self-funding and multiple third-party providers, but this resulted in multiple customer visits, high transaction costs, and complex ways of working.
£13m of in-year savings on third party fees
50% of customers used the enhanced facility
Improved financial controls and governance
customer transactions through the enhanced facility
Arca Blanca worked with the client to design a part exchange operation that was more efficient, better governed, and had a superior customer experience. The client used this blueprint to secure greater funding capacity from their lenders, and allowed them to complete 150% more transactions in-house compared with the previous year. For hundreds of customers, this meant they could move home quicker, safe in the knowledge that they were no longer tied to a chain.
Arca Blanca have played a critical role… Their approach and people hugely accelerated the time it would have taken us to get this working, to get momentum, and to roll it out..
COO, FTSE 250 property developer