The system, known as Mortgage Application Express (Max), will go live on 5 March and aims to provide a one-stop online application process. Max is an ‘intuitive’ system, removing duplications, and tells brokers what documents need to be submitted with the application.
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Features include application credit checks, decisions, subject to valuation, with a decision at point-of-sale for qualifying applicants, and intelligent fields, allowing brokers to look up details like post and sort codes.
Max has also reduced documentation requirements, allows ID to be certified online, and provides online calculators for offset and buy-to-let.
David Finlay, intermediary business director for Woolwich, said: “This latest investment builds on developments last year to further support the broker market. We recognise brokers need efficient tools to drive business online, so it’s been a priority of ours to deliver this tool.”
James Cotton, mortgage specialist for London & Country, said: “If brokers find a website annoying, they won’t use it, so features that make the process more efficient are good.”
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