Keeping Lenders Up-To-Date

Historically, clients have faced an onerous administrative burden when requesting redemption statements from multiple lenders, each with its own process and requirements. This can include having to make phone calls, send faxes or post letters, and completing lengthy online request forms with numerous details. In addition, the need to chase lenders for updates can result in long wait times or delays in the process.

Well, not anymore! Thanks to LMS’ collaboration with lenders, they have developed a single, easy-to-use request form to request redemption statements from various lenders; eliminating the need for clients to enter their information repeatedly, saving them time, hassle and improving client satisfaction. Furthermore, we have integrated this feature into our platform too, allowing users to access it seamlessly and integrate it with their case management systems and other products.

Which lenders are included?
If the firm is on LMS’ panel, a statement can be requested for the following lenders:

• Bluestone Mortgages
• Chorley Building Society
• Leeds Building Society
• Monmouthshire Building Society
• Natwest (National Westminster Bank PLC)
• RBS (Royal Bank of Scotland)
• Stafford Railway Building Society
• The Melton Building Society

Please Note: LMS also work with other major lenders including HSBC, TSB and Virgin, and are working to get more lenders to adopt the service over the coming months.

Overall, the benefits of LMS’ Redemption Statement feature include faster, more efficient processing of requests, reduced administrative burden, and improved client satisfaction.