Conveyancing panel provider LMS has struck a deal with Darlington Building Society that will see the mutual join its panel.
The building society becomes the 29th lender on its LMS Panel Link service.
LMS says it offers “a fully vetted, secure panel that meets with the society’s exact requirements”.
It adds the panel “also provides a range of components to further secure the monetary chain and provides numerous operational efficiencies in the house buying process and remortgaging”.
Darlington Building Society, founded in 1856, has nine branches spread across the North East, County Durham and North Yorkshire, as well as an online banking service.
LMS chief executive Nick Chadbourne says: “Partnering with Darlington Building Society is yet a further vote of confidence in LMS Panel Link which is now firmly established as the market leader in the UK mortgage market.
“LMS continues to place itself at the centre of UK conveyancing and continues to provide security, innovation and digitisation to all partners.
“We are pleased to be further strengthening our position in the market and look forward to a long-term relationship with our latest lender partner.”
Darlington Building Society credit director Sarah Horley adds: “I’m delighted that the society are now to use the LMS Panel Link service, this partnership is an integral part of our journey to improve our mortgage application journey.
“It’s a market-leading solution that delivers enhanced satisfaction to our customers and extra peace of mind for our borrowers as they purchase a home.’’
Last week, London-listed LSL Property Services sold its stake in LMS for £12m in cash, as the group pursued its “financial services led growth strategy”.
The group sold its 49.6% holding in the unit to private equity outfit ONP Group, which consists of O’Neill Patient Solicitors, Cavendish Legal Group, Grindeys Conveyancing and Conveyancing Alliance.
Chadbourne said: “This investment from ONP Group represents a real vote of confidence in our ambitions to continue to lead and advance the market as an independent provider of conveyancing panel management services.”
