Scotland’s largest firm of conveyancers has reported a 24% increase in new instructions for residential sales, purchases and remortgages for the first quarter of 2008 compared to the same period last year.

The figures have been released by Your Conveyancer, formerly known as PSM Direct, to coincide with the announcement of its new name and a £150,000 investment in its technology development programme.

Your Conveyancer, whose clients include Nationwide, Abbey and HBOS, also reports that the number of cases completed during the first quarter has increased by 17% compared to the first quarter of 2007. This activity has resulted in turnover for the first quarter of 2008 up 6.7% with an 11% increase in profit.

Company co-founder and Chief Executive Kyle Peddie, said: “Our growth in the first quarter of this year is thanks to our investment in technology which has made our business much more capable of handling a higher volume of transactions more effectively and efficiently.

“Despite the downturn in the economy, the number of transactions we are processing - particularly in remortgage business - is well up on previous months, as consumers look for better offers and move on from long-term, fixed-price deals.”

PSM Direct originally set up as a traditional law firm until the company’s investment in IT in the 1990s led to it specialising in conveyancing.

Times Recommends

• DIY video helps the WI get to grips with sex
• Artists urge nation to save Titians
• Go home, Iraqi leader tells Britain