TMB unveils its online system

The Mortgage Business has unveiled its online case processing service for brokers and will relaunch its entire product range next month.

The HBOS subsidiary says the online system has been designed to incorporate the firm&#39s own flexible underwriting system, will be easy to use and will allow for faster mortgage decisions and quick offer turnarounds.

Features include email updates to track cases in real time as well as product quotes and a flexible mortgage illustrator.

The online service is similar to Halifax&#39s system which has been tweaked for TMB.

Although its Key Facts Illustrations are not yet finalised the company says that this aspect of the system is nearing completion.

The lender also plans to refresh its whole range on May 17 in a bid to dampen volume.

Bill Dudgeon, managing director at TMB, says: “The main reason behind the criteria change is to dampen volumes down slightly. TMB is way ahead of where it should be for this year and can&#39t see any signs of this slowing down.

“Already, just three months in, TMB has blown away all the targets it set itself for the year and doesn&#39t want to see servicing levels fall behind as a consequence.”

One broker, who wished to remain nameless, contacted by Mortgage Strategy says these changes are not before time.

He says: “With one recent application, our BDM was told there was a backlog of four weeks. These changes are long overdue.”