ONP Solicitors has completed a mortgage-funded property transaction just six days after receiving the draft contract pack.
The Swansea purchase was handled in collaboration with iamproperty Group and Connells Group and represents the partnership’s fastest completion involving mortgage finance.
The six-bedroom, five-bathroom terraced property was sold through iamproperty’s modern method of auction service, which ordinarily provides a 56-day completion window.
ONP, part of Movera, represented both the buyer and mortgage lender, despite the lender requiring three days’ notice to release funds. Medway Law, part of iamproperty, acted for the seller.
PAIRED CONVEYANCERS ACCELERATE DEAL
The firms launched their partnership in late 2024 with the aim of improving the auction transaction process through closer communication between lawyers acting for buyers and sellers.
ONP and Medway Law pair conveyancers across shared Connells Group cases, enabling the teams to establish working relationships and develop more efficient processes.
The partnership previously completed a cash purchase in three days, but the Swansea transaction is its fastest involving a mortgage.
Charlie Darby, senior property lawyer at ONP, said: “Completing a purchase within six days where mortgage finance was required demonstrates what’s possible when teamwork comes together.
“With modern method of auction, success relies on maintaining constant momentum throughout the transaction and working so collaboratively with the Medway Law team has allowed us to do this.”
COMPLETIONS BONANZA
The partnership has now completed more than 1,040 modern method of auction transactions, averaging 51 days from receipt of the draft contract pack to completion.
Its average buyer Net Promoter Score stands at 84, with 86% of purchasers rating the service nine or 10 out of 10.
Nick Hale (main picture), CEO at Movera, says the transaction demonstrates what can be achieved when different parts of the home-moving industry aligned their processes.
“The speed of this transaction also illustrates that modern method of auction is a viable alternative to private treaty for home movers requiring mortgage finance and wanting to achieve market rate, but with the certainty of a faster sale,” he adds.
Jean Coughlan, Home Conveyancing Director at Connells Group, says the completion demonstrated how collaboration and a willingness to stop working in silos could produce tangible results for customers.
