Lender Exchange has emailed solicitors inviting them to sign up for the first stage of their conveyancing panel management launch.
Lender Exchange from Decision First has been devised with the idea of resolving any frustration that lawyers may face when applying to or maintaining a position on lenders’ panels.
The website intends to offer lenders a reduced effort to acquire information and allows them to be updated on any changes made from firms swiftly and effortlessly. The development has been driven by lenders’ desires to reduce risk during transactions and the portal aims to reduce any possibility of fraud between lenders and conveyancers.
By using Lender Exchange, additional benefits such as improved communication with lenders on panel management related issues and an easier application process for joining lenders’ panels are available to service users. A single annual payment is required which covers all lenders agreeing to manage panels through Lender Exchange.
Firms such as Lloyds, RBS and Santander are the first major lenders to have access to the Lender Exchange system and members of their panels will be the first firms invited to register.
With shareholders having more than 20 years of experience in providing secure portals for major lenders, Decision First are confident that Lender Exchange will ‘bring further efficiencies to all parties, conveyancers and lenders alike.’
Within the next eight weeks, Lender Exchange plan to get in touch with panel firms, inviting contacts to register with them and providing details of how to do so. In order to register, firms will need to have access to a unique link and PIN code, sent via email.
