Skipton builds on LMS partnership to simplify buying
Skipton Building Society has expanded its role with LMS’ National Property Transaction Network (NPTN) to make the home buying and selling process simpler and more transparent.
The NPTN aims to connect the various stakeholders in the home buying and selling journey by enabling key property, identity and financial information to be captured once and reused by each party.
Skipton Building Society will explore how information can be used earlier in the journey and more effectively to avoid information being requested and reproduced repeatedly.
The mutual was involved in the NPTN Sandbox last year and said the development of its involvement aligned with the government’s Home Buying and Selling Reform Roadmap, which sets out how the industry can start improving the transaction process on a voluntary basis ahead of legislation.
Si Farrell-Roberts, head of lending at Skipton Building Society, said the excitement of buying a home was often overshadowed by “unnecessary complexity, uncertainty and the frustration of delays”.
He added: “We have a real opportunity to change that. By working with Connells Group, LMS and NPTN, we can make important property information available earlier and allow it to be shared securely between the organisations involved.
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“For buyers and sellers, that could mean less duplication, fewer delays and greater clarity about how their move is progressing. For lenders, having access to reliable information earlier can help us make faster, better-informed decisions for customers.
“Ultimately, customers shouldn’t have to navigate the complexity of our industry. It’s our responsibility to remove as much of that complexity as possible, with the different organisations involved working better together around the customer.”
Chris Rosindale, chief operating officer at Connells Group, said the partnership allowed the group to make the process smoother.
Travis Scholes, chief commercial officer at LMS, said that although buying a home involved different organisations, it was just one journey for the customer.
“By bringing together Skipton’s mortgage lending expertise, Connells Group’s estate agency experience and LMS’ property transaction expertise, we have an opportunity to demonstrate what can be achieved when different parts of the industry work together around a shared goal,” Scholes added.
