Overview
- A partnership announced Tuesday between Lloyds Banking Group, Connells Group and conveyancer LMS introduced an opt‑in digital service for residential sales in England and Wales.
- The platform captures property, identity and source‑of‑funds data once and shares it securely across the chain, aiming to cut duplicate ID checks, reduce waiting, and limit late surprises in a deal.
- Initial use applies when a sale involves Connells branches, conveyancers on the LMS panel and Lloyds as the lender, with proptech firms Moverly, Armalytix, TM Group, Credas and Novus Strategy supporting the workflow.
- Housing Secretary Steve Reed welcomed the move as backing proposals to modernize home moves, and Lloyds said the goal is a faster, less stressful process with fewer collapsed transactions for buyers and sellers.
- LMS says the network is already live and aligned to the Property Data Trust Framework standards, though promised time savings and wider lender adoption remain company claims pending completed cases.