Complete’s franchises will be the first to utilise the packager’s facility to view online procuration fees that are due in advance of the payments being made. This service will be rolled out in the near future to all intermediaries that submit cases through Complete and will be aimed at helping franchises and brokers manage their cash flow more effectively.
Complete franchises will also be paid procuration fees on completion rather than on receipt of the lender’s procuration fee, meaning franchises will now receive procuration fees within seven days of completion.
Franchises will also be able to choose which facilities to offer brokers from their own website, while an improved decision-in-principle online will also be available shortly.
Mike Hill, director of Complete, said: “At a time when many players in the intermediary mortgage sector are enduring very tough conditions, we believe that the time is right for good packagers to build their businesses by offering top service standards to brokers and establish strong partnerships for the future. We believe that our continued drive to help our franchises become more efficient and competitive has created a franchise offer that is unrivalled in the marketplace.”
Roy New, a London based sole broker, commented: “All packagers have to improve their service to keep what business they’ve got and entice more people in. Anything that improves the service and gets people their money more quickly cannot be a bad thing.”
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