The news that two of the bigger mortgage lenders – HSBC and the Halifax are going to be fully using the online conveyancing portal –LMS, means that it will be easier to obtain mortgage offers and request mortgage funds.
The old system meant we had to receive mortgage offers through the post and request mortgage funds, giving up to 7 working days’ notice, by fax. Often we had to follow up the request by calling the lender with wait times of up to 2 hours. This new method will benefit clients by reducing the amount of time required to request funds and wait for mortgage offers as they will be instantly available once processed by the lender.
If you require any further advice in respect of any conveyancing matter then please contact a member of our conveyancing team who will guide you through the process.