AIM News:Rightmove chief launches AIM firm

A property-linked legal company has been launched on the Alternative Investment Market (AIM) as a new venture by the founder of leading industry website Rightmove.

Harry Hill, 63, is behind In-Deed Online, which offers conveyancing for people buying or selling a home. Customers will pay a set fee for the service, with the firm's law partners also getting a commission from every completed transaction.

The business pre-flotation for In-Deed Online managed to raise a total of £3 million, with a further £1.6 million being targeted through the sale of shares.

Former Countrywide chief executive Mr Hill, from Barnsley, has claimed the new firm will offer more transparency than companies offering similar services by carefully monitoring the standards of its panel of law partners.

Maintaining and increasing its panel of legal firms is one of In-Deed Online's goals, with target markets to be reached through the use of digital media channels.