Northern Rock has tied up outsourced process management outfit xit2 to provide an online valuation service.
xit2's Valuation Exchange enables Northern Rock to quickly complete valuations and offer a better service to its IFA network and customers. The lender recently went live with the solution following a six month pilot.
Richard Barclay, head of credit at Northern Rock, says: “The valuation is a critical part of the mortgage offer process. The quicker the valuation takes place, the quicker a mortgage offer can be sent out. The efficiencies in our mortgage processing, which have been helped by xit2's Valuation Exchange, have improved the service we can offer to IFAs and customers.”
xit2 is in further talks with Northern Rock about expanding the relationship into other areas of mortgage processing.
Barclay adds: “In a climate where the goalposts are constantly shifting and customer expectations are escalating, it is important to work with a partner who understands the issues facing our marketplace. xit2 is prepared to go that extra mile to ensure that we're exceeding the expectations of our intermediary partners, customers and delivering the service levels required to remain competitive in this sector.”