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Technology is not always the answer to speedy offers!

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Stuart Powell comments on ‘The Mortgage Solutions’ latest article’.

There is nothing we love more than a speedy Mortgage offer.

We recently got our First Time Buyer clients from Mortgage Application to Offer in 48 hours which of course the clients,(and us!) were delighted about.

We work very efficiently to ensure all Lenders requirements are fulfilled and the application is completed as soon as possible. However, it is frustrating when sometimes this process then slows down with the underwriting, valuation and offer.

We of course welcome any move from any lender to improve their processes, such as Nationwide’s latest improvement. When asked for a quote on this topic, Stuart warned that it is not the only answer to delivering a quicker service.

Stuart Powell, managing director of Ocean Mortgages, noted that Nationwide already had a strong process for getting a mortgage offer to the client, solicitor and broker quickly.

He added: “They are potentially solving a problem that wasn’t really there.”

Powell noted that the biggest delays in the mortgage process tend to be with the time taken to get the valuation completed, and with the legal work after the offer has been sent. This is where lenders need to focus their efforts.

Read the full story and Stuart’s ideas where lenders can improve their service in the below article.

Technology not the only answer to speeding up lender application assessments – analysis