LMS drives remortgage conveyancing industry into new era
LMS, the UK’s leading provider of conveyancing services, announces that it is working closely with five lender clients to deliver the next evolution of conveyancing services.
Five of LMS’ lender clients, including TSB and Santander have all had cases processed through LMS DART – the Decision Automation Remortgage Technology, which will allow an improved journey in terms of speed, efficiency and certainty for all stakeholders while removing duplication and reducing back and forth between all parties throughout.
The initial phases of DART have already demonstrated the power of automation and the possibilities the technology will bring to the wider industry moving forward. Continued investment in the technology will enable further reduction in complexity across the conveyancing process including the extension of the service to include Broker networks, estate agents and other key stakeholders.
However, this isn’t the only service that LMS is collaborating with their lender clients on in order to deliver a truly digital and efficient journey.
SecureLink, an innovative messaging service, delivered to market as a result of a lender request, is designed to improve case query turnaround times by providing two-way communication between lenders and law firms. The technology allows law firms to raise common queries and request redemption statements quickly and easily to drive efficiencies, by answering up to 70% of queries without having to raise with the lender
These products, in addition to the LMS Clickless API range are already being consumed by hundreds of law firms daily and with further integrations planned, adoption will continue in 2023.
Working together seamlessly, all LMS products aim to drive positive change in the conveyancing sector and reflects their ongoing commitment to collaboration with all stakeholders.
Nick Chadbourne, CEO at LMS, comments:
“True innovation and collaboration in the mortgage market are vital, not only when it comes to developing the right technologies but also for accessibility and adoption. We’re proud of the work the team has done to deliver successfully on both DART and Secure Link, driving efficiencies for all stakeholders. The next step is to make tech accessible to all market players in order to further revolutionise the conveyancing industry, and the onus is on us as providers to make this happen. It’ll be a key focus for LMS in 2023.”