The LMS process has been developed using the company’s technologies combined with an in-depth appraisal of more efficient ways of carrying out each element of remortgaging.
The system:
- is fully automated wherever possible to take seconds, rather than hours or days
- collates data at the front end to speed processing
- produces both customer and solicitor packs
- enables queries to be highlighted and dealt with over the telephone
- pre-fills questionnaires to make the process easier for both packagers and clients
- completes cases in less than 10 days
- keeps packagers and their clients updated so they are informed and can plan for case completion.
It can also be used with a number of options to help packagers offer ‘Fees Free’ remortgaging.
Dominic Toller, director of marketing and new business at LMS, said: “Effectively we have turned the remortgages process on its head and started again with a blank sheet of paper to look at how we can create a better process using our technology, our considerable experience in delivering high volume transactions and our robust and proven systems – together with a good deal of lateral thinking.
“The result is a truly revolutionary service which has cut process time so dramatically we have been able to deliver a remortgage in just three days from instruction to completion.
“Clearly there are huge benefits to be gained from the new LMS process - this is the future of remortgaging for packagers and their clients.”
