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"Thank you. This sounds like a sensible evolution of common practice across the industry, which I want to embrace."
"Many high street law firms struggle fulfilling the differing requirements of the lenders, they can be time consuming, costly and onerous. Lender Exchange seeks to ease or eradicate that burden and as such will be gratefully welcomed by many."
"It’s high time there was some joined up thinking from lenders and the CQS on the supplying of information to maintain panel/accredited status. The constant demand for information to be supplied in different formats and updates as soon as they occur means it’s now practically a full time job. A simple, single data collection activity that supported the notion of regular updates could save firms many thousands of pounds."
"The lender exchange is fantastic news and we applaud the work on the part of Decision First and the will of the lenders to get this off the ground. One of the main sources of inefficiency in the conveyancing process is the different practices of the lenders, so this initiative has been sorely needed for a long time."
"We are pleased to hear of the development of Lender Exchange. It seems to us that the bringing together of various lenders who are quite properly seeking to manage their panels and thus provide their solicitor/conveyancer members a “one stop shop” for data delivery is a good thing for the industry as a whole. As I see it the more lenders the better as it will reduce the work needed internally to complete various panel application/renewal forms whilst ensuring that the lenders have the most up to date information available to them"
"An ability to apply and then seek annual reaccreditation to multiple Lenders panels through one ‘gateway/process’ would provide significant cost savings to both Lenders and Solicitors. In addition I foresee that the process would over time become more robust safeguarding the interest of Lenders by improving quality assurance whilst at the same time improving the service available to borrowers thereby benefitting the business interests of both Lenders and Solicitors. My own firm would see a reduction of many hours each week spent in multiple applications/reaccreditations."