More lenders opt to use Lender Exchange

More lenders opt to use Lender Exchange

Decision First has confirmed that another 6 lenders have decided to join Lloyds Banking Group and Santander in their use of the Lender Exchange. Launched last August to the panels of both LBG and Santander, Lender Exchange is being rolled out to TSB, Coventry Building Society, Aldermore, Paragon, new specialist lender Fleet Mortgages and Precise Mortgages (to a limited number of firms only).

The Lender Exchange web portal was designed to address the issue of multiple lenders seeking similar information from law firms in order to manage their conveyancing panels and was driven by lenders’ desire to reduce risk. With more lenders keen to make use of the Lender Exchange, law firms can benefit from submitting their information just once.

Justin Parkinson, Managing Director, Decision First commented: “We’ve been working with some of these lenders since day one, but it simply wasn’t sensible to launch with them all at the same time we’re now delighted to extend the use of the system wider still. This is great news for the law firms already on Lender Exchange as applying to these lenders or retaining their current panel status requires just a few mouse clicks and represents even better value for money as there are no additional charges to be paid. We will strive to bring more lenders on board to further reduce the impact on firms across the UK.”

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