Process will be fully digitised to ensure efficiency
The Nottingham Building Society has announced plans to introduce product transfers for brokers who retain the lender’s customers on one of their mortgages at the end of their fixed-rate period.
The process will be fully digitised, so once a broker has been verified, they will have online access to their client’s current mortgage information before proceeding to application submission.
Nottingham said more details will be shared directly with brokers soon, but the lender has already confirmed that they will be paid on any successful applications they submit on behalf of existing customers from July onwards.
Iain Kirkpatrick (pictured), chief customer officer at Nottingham Building Society, said they are delighted to respond to feedback from the broker community that has been asking for this feature.
“We’re keen to ensure that with the introduction of broker product transfers, we also bring to life a digitised process to make things as efficient as possible. Brokers can be safe in the knowledge that after the fixed-rate period, they will be able to place product transfer business with us,” he said.
“We know brokers work hard to have strong and lasting relationships with their clients, so paying them a fee if the customer remains with The Nottingham as a result of their help and advice is a really positive step forward.”
