ULS Technology (LON:ULS) could have been hit by the Buy to Let downturn in the number of housing transactions, but in its Trading Statement today things look good and the Share price is currently up +8%.

ULS reports a -13% in UK housing transaction against ULS +4% organic annual growth – A difference of +17%. The reason for this is their “Go Compare” B2B software that reduces the cost of house conveyancing.

But what makes it Disruptive - It works like this: A mortgage broker goes onto the ULS platform and filters for solicitors/conveyancers based on price (typical £600 fee), location and service rating. A lawyer is selected and on completion, the lawyer pays ULS 40% of the fee. ULS in turn remits a commission to the mortgage broker (typically 20% of the fee). All parties gain from the process and the house buyer is able to choose a best rated lawyer and lower the cost of conveyancing.

In 2016 ULS had just 2% market share - So lots more to go at. ULS is no Blue Sky company either today flagging, "ahead of market expectations" with £22M sales, £4.4M pre-tax profit, with a positive outlook. I am a holder and am struggling to find something not to like? Ian

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