You are here: Home - News -

UK Finance must lobby for smoother mortgage legals – UKFI conference

by:
  • 08/11/2017
  • 0
UK Finance must lobby for smoother mortgage legals – UKFI conference
Lenders heard a call to arms for trade body UK Finance, in particular to ‘bang the drum’ for a more joined up legal process for mortgage borrowers aided by digital panel management, at the UK Finance annual mortgage conference today.

In its first ever mortgage conference, the new ‘super’ trade body formed of six merged trade bodies including the Council of Mortgage Lenders, was challenged to fight for a more customer-centric conveyancing process alongside its lender membership.

During the innovation session and a question on easing a difficult conveyancing process, Greg Went the interim head of secured lending at HSBC said the homebuying process consultation was an opportunity to ‘hold solicitors to account.’

“Where we can see it, it’s for us to use collective panel management to hold solicitors to account and inform the fact that consumer outcomes are important to us as an industry. It feels as if there is an opportunity because it hasn’t changed in a long time, to call out UK Finance to start to bang the drum for better outcomes,” said Went.

Lender HSBC is working with its legal partners to understand how it can incentivise and reward better customer journeys, said Went.

Another panelist, Matt Lowndes, managing director, Coreco said he had been visited by several conveyancing companies promising case tracking and digitised panel management and added, “that will be upon us soon.”

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @thewritertype: Thoughts and prayers with Americans heading to their new partner’s family home for Thanksgiving.
  • RT @VickyHartleyMS: The Budget 2017 roundup - all the top mortgage and housing headlines - Mortgage Solutions https://t.co/tU2bT2W3p9 via @…
  • RT @VickyHartleyMS: Budget 2017: Fintech competition launched to develop FTB rent history-mortgage affordability tool - Mortgage Solutions…
Read previous post:
santander
Santander ups mortgage rates after Bank of England hike

Santander is the latest lender to raise mortgage rates after the Bank of England upped the base rate from 0.25%...

Close