Pointing the finger of blame at lenders and lawyers should be irrelevant in our technologically enhanced world. The simple fact is that the issues raised by the research should not have been raised at all. It implies that those questioned have not experienced the benefits of those lenders who use panel management solutions and title insurance to simplify and speed up their processes, and the conveyancing firms associated with those panels.
Panel management systems take control of the process, effectively managing all parties involved to identify and rectify any issues before they become a problem and result in a delay to the completion. They have been proven to reduce the time from offer to completion in the case of a remortgage from an industry average of 31 days to less than a week. What brokercould complain about a seven-day process, particularly when this reduction in time has also been proven to reduce abortive applications, improve conversion rates and result in satisfied customers?
Processes that result in speedier completion, faster payment of proc fees and happier clients are not hard to achieve using panel management and title insurance. Isn’t it time those pointing fingers at lenders and lawyers do something about it and try lenders who are using this proven way to speed up completions? It might lead to a very different result to any further research into the ‘worst performers’ – or negate the need for it altogether.
Yours sincerely
Christian Bearman
Director, London & European
