Mortgage Brain and conveyancing services provider LMS have partnered to make the process smoother, faster and easier for advisers and their clients.
Under the new agreement, LMS will provide conveyancing services to Mortgage Brain clients, with quotes delivered in under 30 seconds, and straightforward breakdowns from solicitors for mortgage borrowers.
Mortgage Brain clients will get the certainty of fixed fees and a guaranteed turnaround times for all cases, which Pollyanna Puddephat, head of marketing at the mortgage technology company, said would "deliver value" for all Mortgage Brain clients.
According to Travis Scholes, commercial director at LMS, this strategic partnership will streamline the process from sourcing to completion with the option to use multiple integrated services, in addition to quote sourcing.
We are always looking for ways to streamline processes.Pollyanna PuddephatHe said: "We both look to streamline the mortgage process for as many stakeholders as possible and ease the pain points of intermediaries and lenders.
"We look forward to seeing the results, especially as we continue to refine the partnership, and are pleased to be collaborating with another forward-thinking business in the market for the benefit of all.”
What it offers
By integrating the LMS Select portal, Mortgage Brain clients can find the right conveyancing product for their customers and access real-time quotes delivered in under 30 seconds, with straightforward breakdowns from law firms.
The platform aims to be simple and easy to use, at every step of the conveyancing process, and is tailored to individual offerings, which Scholes said would allow for a bespoke and tailored service.
Moreover, the work with Mortgage Brain will open LMS Select to a further user base of 15,000.
LMS is offering an incentive for all Mortgage Brain customers to use the platform.
The team we’ve been working with just gets what we’re trying to do.PuddephatClients will be able to progress work with PLS Solicitors for a fixed fee of £250 + VAT with a guaranteed turnaround time of just 10 days.
Puddephat added: "Mortgage Brain was founded on the need to drastically simplify the mortgage process and to ease pain points of brokers and lenders.
"We are always looking for ways to streamline processes and LMS Select really delivers on this, fulfilling a key aim of driving true customer centricity and bringing value for all stakeholders.
"The team we’ve been working with just gets what we’re trying to do, and we’ve no doubt that the partnership will add a tremendous amount of value to our clients in 2023."
According to Puddephat, this is one of a number of partnerships that Mortgage Brain will be announcing over the coming months to support our intermediary customers.
Bugbear
Conveyancing has been a huge bugbear for advisers in recent years. A report by FTAdviser in December last year found that satisfaction with service levels had fallen over the preceeding two years.
At the time, Helix Financial Partners managing partner, Adam Stiles added that conveyancing firms also had felt the knock-on effect.
Stiles told FTAdviser: "Many of these conveyancing firms can't keep up with the amount of work, do not reply to any form of communication, and in many cases show little empathy in the financial plight of the borrower in making sure deals go through before the offer runs out."
