Since the initial launch of online applications, Future Mortgages has added online case tracking and online decisions in principle to the site as well as various tools and services.
Richard Hurst, Communications Manager says,
“Future Mortgages had a very clear criteria for using new technology; it had to provide a true business benefit. After the first year, online applications were running at about 10%, which we thought was a healthy percentage. Since that time online business has increased to 35% and we are delighted that this has been sustained from one month to the next. Like most good systems, our innovation is driven by customer feedback and online DIPs and various other support tools are as a direct result of intermediary feedback. Brokers seem to love the fact that applications can be sent outside of business hours with one broker even submitting an application at 1.46am. That’s what we call dedication!!
“We offer customers a reduction of £50 off the application fee if submitted online, but offer the same products and proc fees as other channels. One of the key points we have learnt over the past two years is that the online process delivers inherent value.”
