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Articles tagged 'digital home-buying'

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Mortgage News

Open Property Coalition moves to testing phase with lender backing

Open Property Coalition moves to testing phase with lender backing

October 29, 2026

Mortgage News

Lloyds Banking Group has partnered with estate agency group Connells and conveyancing provider LMS to launch a digital homebuying service that promises to cut out weeks of waiting. The partnership marks the first phase of a national network of agents, lenders, conveyancers, and surveyors, that will deliver an end‑to‑end digitally enabled home sale and purchase journey. In quarter one it took xxx to progress from agreeing a sale to the exchange of contracts, a rise of x% on WHEN, according to data firm TwentyCi AND WHAT ELSE. The digital homebuyer service has been developed to eliminate the points of frustration and cut weeks of waiting and uncertainty from the process. Lloyds Banking Group says among the issues buyers and sellers face are being asked to provide the same information multiple times, the late discovery of issues that cause delays or the transaction to fall through, and long periods of uncertainty. The digital homebuying service wants to move critical checks earlier in the process and share results digitally between parties using LMS’s National Property Transaction Network (NPTN), a shared data-exchange platform. Objectives of the service include making sellers ready earlier in the process with property, identification and material information captured digitally up front by Moverly ??. The source of buyers’ funds, checked by Armalytix, will be made earlier in the process and checks such as identity verification will be required only once. Searches normally completed during the conveyancing process will be provided with the property listing. The service will provided for residential sale and purchase transactions within England and Wales, involving Connells branches, LMS‑panel conveyancers, and Lloyds Banking Group as the lender. Using LMS’s NPTN, property, identity, and financial information can be captured once and then reused by all parties involved in the transaction. The network is already operational and built on agreed standards aligned to the Property Data Trust Framework (PDTF), enabling adoption at scale. The service is supported by Moverly, Novus Strategy, Credas, TM Group and Armalytix, the financial intelligence provider. Housing Secretary Steve Reed said: “I'm pleased to see Lloyds Banking Group, Connells Group and LMS showing what's possible by getting the right information to the right people earlier, cutting the delays and uncertainty that make moving home so stressful.” Frances Cassidy, Head of Strategic & Technology Partnerships, said: “Transforming the homebuying journey is about making one of the most important transactions in a customer’s life simpler, faster and more transparent. Our work with Connells Group and LMS shows what’s possible when estate agents, conveyancers and brokers work closely together, creating a more joined‑up experience and greater certainty for everyone involved.”

LBG, Connells and LMS team up to deliver digitial home buying service

April 21, 2026

Mortgage News

New digital initiative launched to tackle home buying delays

NatWest Group joins OPDA

September 11, 2024
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