The service is the latest phase of the packager’s programme to enhance its technology offering, which it claims has already improved its proposition.
Mortgage Choice is also considering offering enhanced procuration fees to intermediaries who submit their business online, however no firm decision has yet been made on this issue.
Doug Hall, sales director at Mortgage Choice, said: “The launch of the online application is the next step for existing and new intermediaries to Mortgage Choice and can only result in an even better turnaround time from application to offer. Our new technology has the added benefit of being able to pre-populate with lender systems, which has reduced our processing time.”
The packager said is had been investing heavily in technology in recent months to help make its processing quicker and simpler for both directly authorised (DA) intermediaries and appointed representatives (ARs).
Hall said the investment had improved the company’s service and he expected turnaround to fall further with the introduction of online applications.
He said: “Our investment has to date resulted in an average application to offer turnaround time of 14 days. This is a direct result of the automatic e-mail function providing mortgage brokers with a summary every three days on all cases in progress, plus a key stage update facility which automatically advises the broker on individual cases at key points during application.”
Adrian Kidd, IFA at Mint Financial Services, commented: “The adverse market can be very hit and miss so applications can take a lot of time. The packager’s job is to make the broker’s life easier, so bringing in online applications is definitely a positive step.”
