Update to LMS Panel Membership Terms and Conditions (‘Terms’)

An updated set of the Terms for your review and acceptance. You will note that we are entitled to make changes to the Terms pursuant to clause 6.1 and we request that you accept the changes via Conveyancer Zone to remain as a member of the Panel.

The changes we have made only relate to the new Bank Account Check Service (‘Service’) which we are providing for the benefit of customers of our lender clients, for whom you are on the Panel. The Service has been created in response to help mitigate the risk of cyber fraud for both borrowers and law firms, so we believe it will be of value to you.

The Service provides confirmation that the bank account details, which a borrower has been given, match the account details we have recorded via our LMS Panel Link application. Therefore, the borrower can be confident they are making payment to the correct account.

Please note, we do not provide your client account details as part of the Service and we only confirm whether the details entered by the borrower match our records. We accept responsibility for the accuracy of the Service and have also arranged insurance in support of the it. However, we do require you to provide us with details of any client account changes immediately, so we ensure our records are as up to date as possible.

If you would like any further information or to discuss further, please contact us at lenderpanels(Replace this parenthesis with the @ sign)lms.com. The Service can be viewed at www.lms.com/bankaccountcheck.

*Access to this services is currently not available to HSBC customers*