‘Mortgage Application Xpress’ (MAX) is a point-of-sale system which gives instant decisions, allows online identity and proof of address checks and has the ability to pre-populate client data from forms submitted earlier in the process.
The lender insisted the system would cut down duplication and errors and also inform brokers when a specific piece of information is needed, making the process smoother.
David Finlay, intermediary business director at Woolwich, said: “This strengthens our promise to the intermediary market to build on our service. The latest online sales tool is a result of feedback from intermediaries to provide them with a single platform for all mortgage sales-related activities.”
Woolwich has been criticised in the past by brokers for its service standards and the MAX system aims to put these behind the lender.
Simon Chalk, mortgage planner at Mortgage Portfolio Services, insisted a good system was key for any lender.
“A lender must have a good system and Woolwich is one which a lot of brokers have found troublesome. I’m sure it will make a difference but it still doesn’t detract from the need for an end-to-end system which encompasses all lenders as, even though we’re a small firm, we use 40-odd lenders a year who all have different systems. Even simple things like how you key in date in is different and that’s very infuriating.”
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