Developed in partnership with Intercea, the West Brom's internet agency, the new service will give customers a complete outline of all repayments and any upfront charges and early repayment costs before they apply for a mortgage. In addition, customers will have the on-line facility to obtain a quote for household insurance on their mortgage.
According to Mark Lowndes, the West Brom's Research and Planning Manager, "The new service puts us ahead of the game by giving a full and instant illustration for all customers who apply for a mortgage on-line. This is fundamental to the West Brom's commitment to fairness and transparency. Importantly, it also gives us a crucial head start in developing a 'Key Facts Illustration' in preparation for mortgage regulation."
