Lenders Continue Punching Away at CQS

Lender Panels are like London buses at the moment. Nothing for a while and then three come along at once.  


Hot
on the heals of the Santander and Lloyds conveyancing panel  West
Bromwich have announced the launch of a new panel as firms will be
invited to apply through an online portal designed and operated by LMS.


This
is yet another body-blow to CQS as lenders are taking tighter control
over their conveyancing panels rather than relying on the Law Society
kite mark 


According to on-line magazine Mortgage Introducer the new West Bromwich conveyancing panel and portal will allow the society to provide assurances
to its members that all appointed conveyancing firms are credible,
reliable and safe as each are subject to detailed and rigorous
membership criteria and checking.

Huw Lewis, sales and marketing Director at LMS, said: “There has
clearly been an increasing demand for a service of this nature and
already we’ve seen a very positive response from the industry. We expect
further uptake in future, as more firms see the benefit of being on a
well-managed West Brom panel. 


“The new panel standards underpin
quality, service and security; key principles fundamental to the LMS
business model. Our new proposition offers first-rate quality, without
the need for expensive joining fees, making it especially appealing to
the mutual sector. Additionally it offers substantial benefits to
intermediaries and law firms.”