Countdown to conveyancing changes
A lot has happened at Digital Mortgages since our first tentative steps into the mortgage market through an exclusive panel of intermediaries in November 2016. We’ve seen the roll out of the next generation of the MSO platform, and of course our app has swung into action. Because of the app, our customers can track their application as their journey progresses, 24 hours a day, wherever they are. Plus, our competitive rates have been grabbing the headlines.
We always knew this would be an evolution and that it would take some time to reach our goal – to truly disrupt the market. With this in mind we’re chuffed that the next step in our service provision is just around the corner – the expansion and improvement of our conveyancing service.
What are the new changes?
Our initial conveyancing proposition got us out of the blocks and we utilised a small, closed panel of conveyancing firms managed by LMS. This meant we could keep the cost of conveyancing services to customers the same, regardless of which firm was allocated.
We know you are passionate about providing choice, and so are Digital Mortgages by Atom bank, so to further empower our customers and brokers, we’ll shortly be transitioning to a much broader conveyancing panel.
Hmm, what does this mean?
Soon we’ll see new functionality launched in MSO that will allow you to choose your conveyancer from a wide ranging list of pre-approved law firms. If you’ve selected a product that is not fees assisted, you can search for your chosen solicitor by firm name, city or postcode. If it appears in our list, hey presto, you can select it.
The upgrade will also allow you to select separate legal representation for your client. If you’d like to do this, we’ll just automatically allocate a firm from our panel to work on behalf of Digital Mortgages by Atom bank. Please note that the cost for this must be covered by the customer.
How much will it cost?
Unless you have selected a fees-assisted product you'll need to liaise with your preferred law firm to negotiate costs on behalf of your customer.
What if I can't find the law firm I want on your system?
If you or your customer have a specific law firm in mind that can't be sourced on our system, then the law firm can apply to be on our panel. However, they do need to meet the criteria and accept our terms and conditions. Your law firm can progress this via Conveyancer Zone. If they are unable to meet the requirements then you will need to select a firm that does appear on our panel.
How do I get an update on my cases?
Our partners at LMS have been working on a few things to make getting updates a little easier in the conveyancing journey. As the remortgage world seems to be exceptionally busy, this handy little tool will allow you to log in to get basic updates on your cases via
You don't need a username or password to access this service, simply key in the name of the lender, the customer surname and the postcode of the property to be mortgaged. This lets you see the dates when case stages have been completed.
The case stages you can review are:
- Case accepted by LMS
- Borrowers questionnaire received
- Mortgage offer received
- Funds requested
- Expected completion time scale based on current processing times
Now you just sit back and wait for the upgrade to happen. We'll be in touch nearer the time to keep you updated.
And of course, as always, any questions, contact us.