Submitted & Held
Between Lenders & Lawyers
About Lender Exchange
Over the last 6 years, we’ve been working hard with banks and building societies to deliver a service which makes the lives of conveyancers (and lenders) across the UK easier when dealing with lenders on panel related issues.
Fraud continues to concern lenders as well as bona fide law firms and lawyers, and by working together, lenders and law firms can minimise the risks we all face today.
The Lender Exchange is a secure portal that provides law firms with the mechanism to exchange information with lenders in conjunction with the management of their conveyancing panels.
By working with a large number of lenders, we aim to make the process of applying for panel membership and updating lenders on changes in your businesses easier, quicker and more cost effective (for law firms and lenders alike).
The Lender Exchange web portal was designed by Decision First to address the issue of multiple lenders seeking similar information from law firms in order to manage their conveyancing panels.
Launched in 2014, Lloyds Banking Group and Santander were the first users of the system amongst lenders with a number of other lenders following on shortly after.
The launch of Lender Exchange was driven by lenders’ desire to reduce risk. The unique new portal will represent another focus in the growing battle against fraud, of which the annual cost to the UK economy is now estimated by the Government to be in excess of £50bn a year.
The shareholders of Decision First, have more than 20 years’ experience in providing secure web based portals for major lenders to manage their panel application process. This experience has been brought to bear in developing the Decision First portal which we are sure will bring further efficiencies to all parties, conveyancers and lenders alike.
Lender Exchange provides the following benefits for firms:
- Reduced administration
- A simple fee structure
- Continued consumer choice
- Improved communication
- Easy access to mortgage documentation