The next phase of the development will see decisions-in-principle, Key Facts Illustrations (KFIs), case-tracking and audit files added to the site. Online application submission is also due to be added, in addition to the introduction of milestone updates.
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As part of the enhancements, intermediaries will also have the ability to take mortgages straight from db mortgages to packagers, in an effort to save time for buyers and brokers. Matthew Russell, communications and sales support manager at db mortgages, said: “Many lenders won’t allow intermediaries to take the package themselves and hand it straight to a packager. We thought we’d take the opportunity to do something about it, especially the link between the broker and packager, which as it stands is particularly unique within this industry.”
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Further plans for db included increasing the auto accept rate and the introduction of automated valuation models and expansion of distribution. The initial plan is to do this via a pilot with one select appointed representative firm and one mortgage club. This would then be unveiled to the industry following a successful trial with the complete launch finished, in around eight months.
Michael Brill, director at Baronworth Investment Services, said: “I think it is a good step forward for the company, but a lot of this is available elsewhere.”
