Mortgage Advice Bureau (MAB) has partnered with chain progression tool provider ViewMyChain.

MAB says that it has partnered with ViewMyChain to help provide customers with greater transparency of activity up and down the chain, assisting key parties within a property transaction to help ease some of the commonly faced issues.

Ben Thompson, deputy CEO at MAB, said: “We want to try and get to a place where we’re offering our advisers the chance, and the stakeholders around the whole moving process to have complete visibility on chains. Ultimately to try and speed up the process.”

“My hope is that by the time everyone embraces it – and has the confidence to use it – you start to be able to influence change in the process and much more speedy and efficient outcomes.”

Paul Halliwell, Chief Operating Officer at ViewMyChain, added: “The Mortgage Advice Bureau joins our group of trusted strategic data partners, helping to provide insight and automated progress updates against this key milestone within a property transaction.”

During a recent interview with Amy Shields, commercial director at ViewMyChain, Thompson explained the issues and frustrations faced by his advisers due to the lack of transparency and effective communication in the current home buying and selling process.

He said: “I can be a brilliant advisor. I can probably do a lot of chasing work on behalf of the customer that maybe I don’t even need to do. But, if the other four parties aren’t going quick enough and I can’t see anything about those transactions, I’m not in a great place to control outcomes and speeds. Any progression in that regard is extremely welcome for the industry.”

“Technology has a huge potential to help towards a more efficient conveyancing process… If one or two members have got better systems and visibility of the process, they’re going to go about the chain movement more quickly, thereby pulling the slower parties with them, and you’ll gradually have a speed up in the transaction process.”

“Ultimately, that’s where we want to try and get to, and move the industry more quickly.”

The full interview, filmed in early September 2022 as part of ViewMyChain’s Property Industry Focus series is available to view below: