The lender has claimed it is the first in the market to not require a written customer signature for a mortgage to complete.
Effective from 15 January, intermediaries no longer have to print the old declaration and post it to BM Solutions along with the customer’s signature. Instead, they confirm the customer understands the process by clicking on the screen and sealing the application with an electronic stamp.
Chris Pearson, head of sales and marketing at BM Solutions, said: “We’re constantly looking for ways to respond to the feedback we get from brokers and always want to implement improvements that make a difference to brokers on a day to day basis.”
Peter Brodnicki, chief executive at the Mortgage Advice Bureau, commented: “Anything that reduces the amount of administration for the broker and speeds up the service for the client is a welcome benefit. That said, I feel that it is down to the adviser to protect them selves. If they feel that their fact find, information and advice are all in place there is no reason for a client to sign a declaration to get a decision from the lender. However, with self cert mortgages, where there is more risk involved, additional requirement may be required.”
