LMS has formed a new partnership with well-established lender, Progressive Building Society, further expanding and diversifying LMS Panel Link, a secure ecosystem that effectively connects lenders with trusted law firms to facilitate secure and digitised case progression.
Progressive Building Society launched under the Progressive name in 1914, born out of the merger of five smaller societies. Today, Progressive is Northern Ireland’s largest locally owned financial institution, and now, with the support of LMS, the Society is expanding into the market in England.
Panel Link will enhance security and efficiency for Progressive Building Society in this new venture, connecting the lender with law firms who meet quality, security, and compliance criteria. This level of due diligence and connectivity will help cases progress securely and smoothly.
Progressive Building Society will also benefit from LMS’s Charge Registration service and Secure Link.
The Charge Registration service eliminates back-and-forth communication relating to pending charge registrations, making this part of the process more streamlined and stress-free.
Secure Link consists of a knowledge base of lender-approved FAQs, which will transform how Progressive Building Society manages queries. Firms will receive immediate answers to post-offer questions, resulting in fewer delays and greater certainty while freeing up more time for Progressive. 71% of queries raised by law firms are resolved by the knowledge base, eliminating the need for them to contact the lender. This knowledge base also reduces communication made via traditional, less secure methods, further increasing case security.
When it comes to redemption statement requests, a law firm can request this key document with ease and confidence, since 91% of redemption statements are delivered instantly via Secure Link.
Suzanne O’Connor, Chief Relationship Officer at LMS, comments on the partnership: “We are delighted to support Progressive Building Society in this venture. Panel Link is continuing to expand in number and diversity, which is something we are immensely proud of – but bringing on board another well-established lender such as Progressive also means that we can benefit more home buyers and sellers and positively impact more cases.”
Kevin Flannery, Head of Sales at Progressive Building Society, says: “For over 100 years, Progressive has put its Members at the heart of everything we do, something we will continue to focus on in the future. By expanding into a wider market with the support of LMS, we are pleased to be able to help more people to buy their forever homes. Panel Link provides us with access to a host of trusted law firms, and the efficiency that Secure Link provides gives us the freedom to continue serving our Members with a personal, bespoke service - we are delighted to partner with LMS.”
