Tesco Bank to team up with LMS

Tesco Bank will use LMS as its integrated conveyancing partner, it has announced.

The challenger bank said it had selected the conveyancing panel management specialist for its wealth of expertise within the UK lender market and its proven ability and track record.

LMS will provide fees assisted remortgages, general panel management and access to a panel of law firms.

LMS chief executive Andy Knee says: ‘We are delighted to provide both our customer products and Panel Link services to Tesco Bank, its customers and their mortgage intermediaries.

‘Tesco Bank is an exciting challenger brand and we are looking forward to building a long-term relationship with it.’

Tesco Bank managing director David McCreadie says: ‘LMS is able to provide us with a high quality and complete service, which will allow us to meet the needs of our customers and intermediaries.’

Tesco Bank has offered mortgages for almost five years and launched in the intermediary market in April 2016.

LMS manages around 200,000 transactions each year.