CLSQ has launched Title&Tenure, a solution designed to streamline the mortgage lending process.
Title&Tenure provides “instant” access to tenure type and remaining lease term information, eliminating the cost and time of getting this information from Title Deeds.
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 HMLR for £3.00, or during the post-offer conveyancing process, which can lead to significant wasted time and resources if issues are discovered that might prevent completion.
Title&Tenure can be integrated at the decision-in-principle stage, allowing for automated decision-making.
Spencer Wyer (pictured), strategic development director at CLSQ, said: “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.”
