The initiative will be primarily focused on prime residential lending up to 80% loan to value (LTV) and later life products, according to Brendan Crowshaw, head of mortgage and savings distribution at Vernon Building Society.
Crowshaw (pictured) continued: “Partnering with Optimus will enable the society to offer a free legals proposition for remortgages, giving brokers and their clients a more competitive and streamlined option at a time when remortgage demand remains a key part of the market.
“We wanted a solution that would enhance the customer journey and improve visibility with brokers. We’re confident our partnership with Optimus enables us to focus on what we do best – supporting members and brokers and growing the society.”
Under the new arrangement, customers will have direct contact with their assigned solicitor, alongside support from Optimus’ dedicated team.
The initiative means Vernon Building Society has now outsourced panel management and due diligence to a trusted partner, with Optimus overseeing a dedicated panel of conveyancing firms and providing ongoing performance monitoring and reporting.
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This is important to ensure customers continue to receive a personal service from their solicitor, while also supporting faster and more efficient processing, Crowshaw said. It also allows Vernon Building Society to focus on personalised underwriting, dedicated service and growing lending volumes.
Vernon Building Society said the new proposition puts it in a stronger position to compete for a greater share of this market while supporting brokers with faster completion times and a more competitive offer.
Lee Riche, commercial director at Optimus, said: “We’re proud to support Vernon Building Society with a service built on consistent standards, relationships, and people. Our dedicated, experienced, and friendly approach will provide additional support for clients through their remortgage conveyancing. We look forward to helping more borrowers benefit from smoother transactions, faster completions, and customer-focused service.”
Vernon Building Society is making a number of technology-based upgrades. In April, it partnered with FintechOS as part of a major investment to modernise its mortgage lending capabilities and improve the user experience for members, brokers and colleagues.
