The lender said brokers have found the system very useful when submitting applications directly to Amber.
The system provides a binding decision to lend; either an automated yes/no decision within minutes or a decision based upon referral to an underwriter within one working hour. Decisions are subject to valuation and adequate security.
The DIP system incorporates a credit search, helping brokers to identify appropriate products for their clients. The ‘product cascade’ facility highlights the possible solutions Amber can offer to suit specific client needs.
Mike Perry, associate director sales and marketing at Amber, commented: “At a time when some lenders are reportedly finding it difficult to provide a stable DIP system it is extremely pleasing to see the positive reaction of our intermediaries using the Amber DIP. The DIP is giving the intermediary more comfort that the application is going to proceed to completion while the client is with them. Amber values the intermediary market and is working hard to maintain the high standards required to help the professional advisor in placing a mortgage for their clients.”
