In-Deed set to buy high street firms
A property legal company has revealed its intention to buy up high street firms.
In-Deed, launched this year by Rightmove founder Harry Hill (pictured), will use the £4.5m secured through an Alternative Investment Market flotation in June to secure ownership of high street firms, build its brand and expand beyond conveyancing.
Further money-raising moves are being planned for 2012. Firms on the company's radar will have to be 'successful and profitable provincial legal practices', preferably with established residential conveyancing departments.
Hill, former chief executive of estate agent Countrywide, said: 'We're making great progress in building a national conveyancing brand and the next logical step is to establish a strong presence on the high street.
'This will allow us to continue to build our customer base nationwide and begin widening our legal service offering beyond conveyancing.
'We intend to be selective about firms we invest in and, in line with our mission to offer outstanding customer service in a market not currently noted for this.'
In-Deed was founded in May and claims to simplify the legal process for buying a house working on a no-completion, no-fee basis.