The lender has launched an online cast-iron mortgage offer, automated procuration fee payments direct into brokers’ bank accounts and launched its ‘owl’ compliance campaign designed to draw attention to the compliance benefits of online services.
Steve Sandiford, head of products at BM Solutions, said: “BM Solutions Online has been incredibly successful. 90 per cent 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.”
He added: “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.”
BM Solutions launched its online service BM Solutions Online in January 2003. BM Solutions suggests brokers can secure a virtual offer in less than one minute.
