The new system will generate an electronic offer the instant a case is offered - saving intermediaries from waiting days for a mortgage offer to arrive in the post.
Following a successful pilot with packagers and brokers, electronic offers will be made widely available in the coming weeks. The electronic offer is available in PDF format, which ensures a controlled, branded and legally binding offer letter for use by intermediaries.
It will save brokers and their customers time and effort, and give more control of the application process.
Mortgage Broker Greg Simmons of Index Financial Services Ltd, who has piloted the system says: ‘‘The fact that I can now access a formal mortgage offer electronically — not just a decision in principle — is absolutely fantastic. It saves time as I don’t have to keep ringing to see if there has been a mortgage offer or wait for the offer to be sent through the mail’’ adds Simmons.
Since Mortgage Express launched its online offering in February 2002 it has demonstrated its commitment to leading the market online by making ongoing enhancements to the system.
Tim Sturley, head of business development at Mortgage Express, says ‘‘We are continually working towards making the application process faster and more efficient. This initiative is a perfect example of a tangible benefit to intermediaries of doing business online’’.
‘‘Once Mortgage Express decides to make a formal mortgage offer, brokers will instantly be informed via email. The process is then simple - all they have to do is access the individual customer’s case summary to view the mortgage offer’’ Sturley adds.
Brokers can now obtain product information, submit an application, case-track and receive a mortgage offer all online - making Mortgage Express’ offering the most extensive in the lender market.
To find out more about receiving Mortgage Express’ electronic offers, visit www.mortgage-express.co.uk
