Commenting on these results Nick Baxter – Director – Mortgage Promotions said, “We are delighted that so many of our registered users have recognised the benefits of trading with Bank of Scotland through their electronic system. We know the Bank of Scotland system works well and we are pleased the mortgage writers who work with us think so too. These results show that mortgage writers are now embracing technology which is a ‘win win’ situation for all parties. Lenders receive applications in a more cost effective way, mortgage writers become more efficient and consumers benefit from faster processing times."
Commenting further Bank of Scotland added, “We have been working with Mortgage Promotions since their launch in July 2001. We have been impressed with their enthusiasm to help their registered users trade with their lending partners more cost effectively and efficiently. A massive number of their users are able to add further value to their client relationship by using our system."
Once the Bank of Scotland electronic trading system has been loaded to a mortgage writers system they benefit from the ability to:
- Submit a fast track agreement
- Convert a fast track agreement to a full online application
- Submit a full online application
- Carry out an offline application
Plus they benefit from
- Real time case tracking
- A secure email service
- Product search facilities
- Client quotations
Nick Baxter added, “mortgage writers are understandably keen to get paid for their mortgage submissions as quickly and efficiently as possible; by registering their mortgage application online there can be no dispute as to which club the case was submitted through so the fee is guaranteed to be paid at the right time, through the right club and at the right rate.”
