Intelligent electronic forms for its Full Mortgage Application have been designed to be quickly and efficiently completed and submitted for the Society’s extensive mortgage product range.
By submitting applications to the Society via mte, intermediaries and their customers can now benefit from a fully-automated ‘right first time’ process and receive a response in a matter of minutes.
With over 70 per cent of the UK’s lenders and leading packagers live, and its availability to all mortgage intermediaries, the mte is now responsible for processing over £50 billion worth of mortgages per year, making it the largest single delivery channel for mortgage placement in the industry.
Rhona Mackay, head of business development at Scottish Building Society, commented:“We’ve made major inroads in recent months to our whole application process and to developing our electronic capabilities so that our intermediaries can complete the mortgage sales process in a smarter and faster way. The Mortgage Trading Exchange offers the best solution in the delivery of electronic mortgage submission and processing and we are confident that we’ve found the perfect route for mortgage introducers to trade electronically with the Society.”
Mark Lofthouse, CEO of the Mortgage Trading Exchange (mte) added: “Achieving the vision of all intermediaries having access to the vast majority of lenders is getting ever closer with 30 lenders now live and Scottish Building Society’s commitment to the technology is further testament that our common trading platform is the best solution for all concerned in the industry. With more and more intermediaries using the Mortgage Trading Exchange every day, I’m sure it will help increase efficiency and business levels for the Society.”
