Property Finance

Supporting £160m of customer transactions through more effective capital deployment

The Challenge

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.

The Results

£13m of in-year savings on third party fees

50% of customers used the enhanced facility

Improved financial controls and governance

£160m

customer transactions through the enhanced facility

We 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.