New Strategic Agreement with Belmont Green

RNS Number : 7232C

ULS Technology PLC

30 June 2016

 

ULS Technology plc

(The "Group" or the "Company")

New Strategic Agreement with Belmont Green

ULS Technology plc (AIM: ULS), the provider of online B2B platforms for the UK conveyancing and financial intermediary markets, announces it has signed a five-year agreement with challenger mortgage lender Belmont Green Finance Limited ("Belmont Green"), to provide its proprietary conveyancing comparison technology platform, eConveyancer^TM.

This agreement, whereby ULS receives a fee per completed transaction, is for a new deployment and is expected to launch with a number of intermediaries later this year. This agreement is another demonstration of the Company's stated growth strategy to further penetrate the conveyancing market through relationships with banks, specialist lenders and building societies.

Belmont Green is a team of experienced mortgage professionals who have come together to create a new challenger brand mortgage lender, which will distribute its products exclusively via intermediaries. The company formed in October last year and was looking for a robust and scalable service that could support its growth over the long term.

With overall customer experience, speed to market and ease of technology integration being of highest importance to Belmont Green, ULS is proud to have been awarded this new contract which will extend to cover a variety of conveyancing services, technology and support.

ULS was able to demonstrate a full understanding of Belmont Green's business requirements and show how its conveyancing service could effectively provide their mortgage customers with a straightforward and speedy application process, leading to faster mortgage completions and high levels of customer satisfaction.

ULS's eConveyancer^TM platform enables mortgage advisors and intermediaries to help their customers compare and then instruct a vetted, approved and regulated solicitor or licensed conveyancer. Typical comparisons include cost, location and speed of service. In addition, ULS provides ongoing service and support for customers to facilitate the smooth running of conveyancing transactions.

Ben Thompson, Chief Executive of ULS Technology plc, commented: "This new relationship will add to our already strong and loyal distribution for conveyancing and will assist our plans to increase our market share. We have spent much of the last year completing our suite of conveyancing services for mortgage lenders, specifically so we can more actively target this sector. As a result of this, we are now able to offer everything that a lender requires with regard to conveyancing services and plan to make further inroads into this market in the future.

"We very much look forward to helping Belmont Green to launch into the UK intermediary mortgage market."

Enquiries:

ULS Technology plc	Tel: [phone]
Peter Opperman, Chairman
Ben Thompson, CEO
John Williams, Finance Director
Numis Securities Limited (Nomad & Broker)	Tel: [phone]
Stuart Skinner / Paul Gillam, Corporate Advisory
Michael Burke, Corporate Broking
Walbrook PR Limited	[e-mail]
Paul Cornelius	or Tel: [phone]
Nick Rome
Helen Cresswell

 

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