Conveyancing solutions provider LMS has launched the pilot phase of its case updates solution for brokers and estate agents which sends automatic daily updates to brokers and estate agents.
It keeps them informed on the latest status of all active instructions. The pilot is being trialled exclusively through Alexander Hall, Connells, London & Country and LSL with lender TSB.
Nick Chadbourne, chief executive at LMS, said: “LMS is committed to looking for new ways to improve the service we offer to all key parties involved in the remortgage process.
“As the industry continues to embrace technology, LMS wants to be driving change from within and bringing the benefits of digitalisation to lenders, firms, brokers, and customers alike.
“Our new case updates solution will help to change the home buying experience for the better. Ultimately, conveyancing can become a seamless part of the process and working closely with respected industry stakeholders will help LMS to drive that change.”
Greg Cunnington, director of lender relationships and new homes, Alexander Hall, added: “We are excited to be involved in this pilot launch, as it represents a real step forward for brokers, and the remortgage process as a whole.
“Brokers need to be able to devote time to speaking with clients and securing new business, not manually chasing for updates on existing cases over the phone.
“By removing this from a broker’s day-to-day admin and replacing it with daily automated updates, LMS’s solution lets us focus on delivering value by investing our time and resources into the areas that matter most for the consumer.”
Bev Bradford, head of mortgage intermediaries performance, TSB, said: “LMS’s case updates solution embodies the cross-industry collaboration and transparency that is essential to the continuing progress of digitisation, and we’re excited to be part of its development.
“Cutting down on time-consuming activities saves a huge amount of time in the mortgage process and LMS’s system delivers this for all key stakeholders involved.”
The case updates removes the need for brokers to manually call for updates, giving brokers more time to spend with their clients or on other urgent matters. This is an extension of LMS’s current online portal service ‘Case Check’ where brokers can view the status of individual cases.
Additional lender work streams are due to be added shortly following which LMS plans to expand the service to other brokers and estate agents.