Conveyancing services provider LMS has designed and developed technology that allows it to poll HMLR’s application data directly for case updates.
This means LMS will no longer have to chase Panel Link law firms in relation to each pending charge registration.
Instead, the law firm will be requested to provide an application barcode reference (ABR) to LMS at the start of the application process.
This will allow LMS to obtain updates directly from HMLR.
The process allows LMS to secure up to date information about the registration of charges on behalf of its Panel Link lender clients regarding the property they have advanced a mortgage against.
LMS chief operational officer Ian Robinson says: “We exist to drive efficiencies and improve the conveyancing journey for all stakeholders, and we can only do that properly if we listen to the industry and bring products, services and ultimately technological solutions to the market that benefit the whole industry.
“The development of our tech in response to the feedback has enabled us to dramatically reduce the overhead of law firms providing regular post completion updates to lenders via LMS.”
The new technology launches on 17 October.
