Launch brought forward after receiving positive feedback over the lender's remortgage process
Tandem Bank has launched its residential purchase proposition earlier than expected, following positive broker feedback over its streamlined remortgage process.
The digital bank said it had been working closely with intermediary partners to ensure that customers’ remortgages complete without unnecessary delays. Overseeing much of the legal work, Tandem found that by tightening up the process, it could reduce the time taken to complete the transaction.
The lender added that partners enjoyed being more involved in the legal process and having increased visibility of the case.
The complete list of Tandem Bank’s mortgage products is available online through its website.
“We’ve listened to our intermediary partners and, following positive feedback, we are pleased to be able to launch our residential mortgage purchase product range earlier than expected,” Steve Beard, managing director at Tandem Bank’s mortgage division, said. “We’re looking forward to delivering Tandem’s effective and quality service to intermediaries and their clients.”
The challenger bank launched its remortgage portfolio of products last December, and provided ‘lender only legals’, which were expected to reduce the process timeframe from weeks to days.
“With the purchase products, we’ve kept the same easy to use process,” it said. “Intermediaries can submit a client’s DIP request through our portal and decision engine, and receive a copy of the applicant’s or lender’s credit file once the ESIS has been produced. This gives the adviser all the necessary information to make a correct recommendation to their client.”
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