Following the introduction of its new Charge Registration service, LMS has enabled 73% of Panel Link law firms to cease providing manual updates on their post completion matters.
The initiative was initially triggered by feedback from law firms themselves on the charge registration chasing process.
The new service allows for streamlined communications and eliminates the requirement for updates every 30 days, law firms can simply provide an HMLR Reference (OSCR/ABR) to LMS at the outset of the application process.
LMS then uses the reference to access the application status directly from HMLR with no further law firm engagement required unless there are material changes to the status of the application.
The new service has enabled over 45,000 cases to have either the priority or application notice checked via the integration with HMLR, removing the need for time consuming manual updates.
There are also additional routes where law firms can access the LMS Charge Registration service, making accessing the service as easy as possible, these include: Charge Registration API, LMS Plug and Play, as well as other integration partners.
Ian Robinson, chief operational officer at LMS, said: “While there is a need for us to have regular updates on both priority notices and applications to ensure the lender is protected, our integration with HMLR allows for a much easier solution.
“The new charge registration update process has been designed in collaboration with law firms which has resulted in the build of a service that delivers automation for law firms without compromising on the need for consistent updates until the application is registered, and it’s rewarding to see this come to life with significant uptake in the first month.
“We’re determined to continue working with all law firms to encourage further adoption of the service and to continue our collaboration with HMLR and law firms to further refine and enhance the service offering moving forward.”
