CLSQ has announced the launch of Title&Texture, a solution designed to streamline the mortgage lending process.
Tile&Texture will provide “instant” access to tenure type and remaining lease term information which will “eliminate” the need for costly and time-consuming process of getting this information from title deeds.
CLSQ strategic development director, Spencer Wyer, explained: “Title&Tenure is a game-changer for the UK mortgage lending industry.
“By providing critical property information at the outset of the application process, we are enabling lenders to make more informed decisions faster and more efficiently.
“This not only saves time and money but also enhances the customer experience by reducing delays and uncertainty.
“It’s easy for lenders to integrate into their systems, using one simple API, to help lenders deliver instant decisioning with greater confidence.”
The automated service provides essential property details, such as the title number, tenure type, and remaining lease term, without the manual process of obtaining the title deed.
Traditionally, this information has been obtained by purchasing the title deeds from HM Land Registry for £3, or during the post-offer conveyancing process.
However, CLSQ warned that this can lead to “significant” wasted time and resources if issues are discovered that might prevent completion.
tom.dunstan@ft.com
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