GMAC-RFC became the first mortgage lender to launch point of sale offers (POSO) using automated valuations and has receieved very positive response.
Phil Tofield, from Protexx Mortgage & Financial Services, said: “I found the system user-friendly and logical. My clients were delighted to have received their mortgage offer the day after they gave me the go ahead.”
Simon Mouncher, operations director at EM, said: "We are proud to be part of the pilot for POS+ and since its introduction we have had a fantastic response to this technology. Our brokers think it’s great as they are able to provide their customers first class service with same day offers.”
The technology means that the timeline for obtaining a mortgage offer has now been reduced from weeks to minutes and GMAC-RFC is not charging any premium to consumers for this service. GMAC-RFC’s testing also suggests that about 60 per cent of applications will receive instant offers, and this will increase over time.
Jeff Knight, director of marketing at GMAC-RFC, said: “We are delighted to be rolling out POSO to thousands of brokers across the country. This technology is intended to help brokers increase their business by meeting consumer demand for immediacy, and also freeing up sales time for them. It’s a win-win situation for all involved which is very exciting for us. This is why we are doing so many point of sale offers.”
