L&E extends deal with NAB

Amanda Jarvis

April 24, 2006

L&E will provide NAB's Complete title insured panel management conveyancing solution across the group’s third party and retail channels in the UK.

Under the terms of the contract, L&E will panel manage and title insure the conveyancing of NAB remortgages arranged through its Clydesdale Bank and Yorkshire Bank retail and premium brands as well as through its third party channels in England, Wales and Scotland.

Dean Cutbill, director of third party distribution at National Australia Bank UK commented: “As part of the expansion of our Integrated Financial Solution centres into the south of England, we identified the need to find the right partner with a proven track record of providing high quality, fast and efficient legal services to complement and enhance our mortgage proposition and brand values. Having experienced the benefits of using L&E’s Complete panel management solution through our third party distributors, it was logical step to extend it into our retail and premium channels allowing all Clydesdale and Yorkshire Bank customers to enjoy a simple, fast experience.”

L&E’s Complete extranet case management technology combined with its panel of solicitors has been proven to reduce lenders’ post offer to completion cycle by as much as 70 per cent. The financial benefits in terms of reduced processing costs and accelerated interest payments can amount to millions, and the simplified and faster process results in a dramatically improved customer experience.

Christopher Taylor, chief executive officer at London & European, commented: “National Australia Bank UK is a growing force in the UK mortgage market, and we’re delighted to extend our relationship further. Our solution addresses the three key elements of the bank’s expanding mortgage proposition – its residential remortgage product range, house purchase and sale referrals from direct mortgage business, and buy-to-let – and we look forward to supporting its growth over the coming months.”

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