My Home Move Ltd has reported a profit for the financial year to end December 2011, marking a return to profit following a difficult 2010.
The Directors’ report and financial statements announced a profit of £994,000, which shows that the company has bounced back from 2010 where a loss of £980,000 was reported.
The report highlights a busy year for the company, where despite the housing market remaining steady, My Home Move’s average direct market share, on cases fully processed by the company, increased by 18 per cent. The average total market share for My Home Move was 2.86 per cent, which means the company claims to be market leader.
During 2011 the company completed conveyancing cases in every postcode area in England and Wales.
In the first quarter of 2011 My Home Move rolled out its e-conveyancing system, eWay to over 70 per cent of its new clients. eWay provides a secure online case file, and allows clients to read and complete key forms and documents online, upload documents to their case file, make online payments securely, and use SMS messages to communicate. It can be accessed from PCs and smartphones.
In 2011 the company completed over 10,000 transactions through eWay and the company was awarded the Mortgage Finance Gazette (MFG) Award 2012 for Innovator of the Year.