Tuesday 13 May 2014

Conveyancing Lawyers Get Help Showing Lender Panel Status

Gone are the days when a home buyer could be certain that the conveyancing lawyer of their choice could also act for their lender. Hardly a month now goes by without news that yet another lender has culled its conveyancing panel by removing hundreds of firms. 

Estate agents have seen 18% of their transactions delayed or derailed after discovering a buyer’s lawyer was not on their mortgage lender’s panel of approved solicitors. In many cases this discovery resulted in the transaction being delayed by as much as 21 days. It is estimated that this issue affects in the region of 100,000 home sales every year.  
That lack of visibility presented a problem in search of a solution.

I am pleased to say that the launch today of LenderPanel.com is that solution.

For lawyers, LenderPanel provides an online tool to let borrowers and estate agents know which lenders have approved the solicitor to act. We feel that our pricing of the service, effectively as little as 39p for each lender panel that your listing includes each month, means that you've got a marketing tool that's cheaper than a Mars bar.

For estate agents, mortgage brokers, and borrowers, it's a free-to-use resource that provides access to subscription listings of law firms along with the specific lenders for which they are approved to represent, the closest location, contact details, and other helpful information to keep the conveyancing process moving.

LenderPanel.com is a win-win, something in short supply on today's conveyancing landscape.

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