In addition, the society is testing an innovative case tracking service which keeps online customers informed about their mortgage every step of the way.
Following a successful pilot period, the ‘One Minute Mortgage Promise’ is now available to all mortgage customers at www.nationwide.co.uk. Unlike many other online mortgage application services, Nationwide’s offering is flexible as it allows customers to start applications online and then choose how they wish to complete the process; in the branch, over the phone or by post.
In addition, the Society is testing an innovative case tracking service. This new technology enables Nationwide to keep customers updated while it processes the successful mortgage application. The system uses outbound SMS and e-mail alerts, providing customers with a personal web page which displays a real time progress report.
Jim Willens, Nationwide’s retail operations director, said: “The One Minute Mortgage Promise is all set to be a huge success. During the pilot, we saw the number of online mortgage applications increase tenfold. We are now issuing over £3 million worth of agreements in principle every day. Now the new service has been officially launched, we can only expect these figures to rise. Customers are also keen to take part in our case tracking trial. Currently 83% of applicants are opting to take up the service.”
