From January 9, a daily email will be sent to brokers informing them of the state of play of all their outstanding cases with Accord.In addition, any individual changes will also be emailed, so brokers are always up- to-date with applications. Accord was one of the first to pioneer an online service announcement for brokers to gauge how quickly applications could be processed. Last week it also revealed the launch of its Adverse Business Cascade system. This gives brokers an immediate automated response as to whether their clients suit their product criteria, moving them up to a prime rate or down to a sub-prime rate, depending on the customer’s credit history. Linda Will, managing director of Accord Mortgages, says: “The rationale is twofold – brokers always want to know what’s going on and a lack of proactive information is what they hate most. “At the same time, a mass of phone calls coming in to us asking at what stage individual cases are stops us from processing cases. So the email alert is a win-win for both sides.” Sole broker Roy New says feedback is the worst aspect of all lenders’ service delivery, and he would welcome any innovation in this area. He says: “If you go online with lenders, you can hit various buttons to see if cases are up-to-date, but that doesn’t tell you what still needs to be done. “If they say they’ve collated x and have still to do y, that’s excellent. I hope other lenders follow suit.”
- Top trends
Following in Take That’s footsteps, the Professional Mortgage Packagers Alliance has revealed that after being on the verge of a split last week, it’s getting the band back together.
HBOS predicts a flat housing market in 2006, with modest nominal house growth and no change in real terms. In its 2006 forecast, HBOS says low, single digit, growth is expected to be the norm, and UK house prices are forecast to rise by 3%, broadly in line with the predicted rise in retail price […]
A website www.mortgagepages.co.uk has been launched which could fundamentally change the way brokers do business. Mortgage Pages UK is the brainchild of Anthony & Co Financiers, a Cotswold based private financier and has grown into a comprehensive website of over 200 pages of contacts, information and links catering for every aspect of the industry. The […]
The Loughborough is welcoming an initiative to slash the opportunity for fraud against bank and building society customers.From October 2006 cheques for personal accounts made out solely to an institution are likely to be declined in certain circumstances when the name of the person who holds the account will also be required in the payee […]
Royal London commissioned Opinium to run our State of the Protection Nation research to find out how people felt about their own protection needs and the industry as a whole. By Ross Jackson, Senior Protection Marketing Manager We surveyed people who had already taken out some kind of protection insurance and those who didn’t have […]
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