Primrose is offering a 99 valuation and legal fees deal from today to coincide with the launch of its online service Evaluate at the Mortgage Business Expo.
It says the deal is a knock on result of the IT platform which has allowed the firm to make significant cost savings.
All data captured in the Evaluate enquiry, which when submitted offers up to six binding decisions presented on a matrix, will be transferred into an online application process.
The streamlined process enables Primrose to charge a single submission fee of 99. This includes valuation and legal fees on all sub-prime remortgages sourced through the Evaluate panel.
Kevin Friend, strategic partnerships director at Primrose, says: Technology enables a more streamlined process for brokers, lenders and us.
“The cost savings increase the earnings per case for brokers and their clients benefit from an improved service at a reduced fixed cost.
“The time from application to completion is also significantly reduced – this is helped by binding decisions with limited documentation requirements and point of sale offers.
Primrose is working with its lenders and service providers to ensure that these and other benefits are offered in 2007.
It says significant investment in Primrose’s integration with lenders. conveyancing providers and valuers will lead to leading edge products and further reductions in completion times.
Keith Street, director of sales at Kensington Mortgages, says: In Evaluate, Primrose has recognised that using technology to enhance service standards is just as important for distributors as it is for lenders.
“With our K-link integration programme, we at Kensington Mortgages have been delighted to work with Primrose on developing useful technology that targets the way brokers work, finding solutions that make it easier for them to do business.