During the last year and a half BM Solutions has launched an online cast-iron mortgage offer; has automated procuration fee payments direct into brokers' bank accounts and has launched its 'owl' compliance campaign designed to draw attention to the compliance benefits of online services. BM Solutions is still one of the only lenders in the market to have stated that it will offer a fully compliant and guaranteed Key Facts Illustration (KFI) directly from its website.
BM Solutions also recently revealed that many lenders are up to ten 'internet years' behind with technology and issued a rallying cry for lenders to launch online services as early as possible before Mortgage Day.
Steve Sandiford, head of products, BM Solutions said: "BM Solutions Online has been incredibly successful. 90% of our brokers submitting business online after just eighteen months is a real achievement. Hopefully this success will encourage other players to launch online services as early as possible.
"We truly believe that the only sustainable way to transact business post Mortgage Day is via online services. But intermediaries need time to get used to a lender's online system before regulation - that's why the industry needs to get moving," concluded Sandiford.
BM Solutions launched its online service, BM Solutions Online (bmsolutions.co.uk) in January 2003. Brokers can now secure a virtual offer in less than one minute. The time it takes to submit a case has been reduced by the many features on offer - product matching, intelligent application forms and case tracking to name but a few.
