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Britannia&#39s online mortgage application offers 10-minute decision

Britannia Building Society has this week launched an online mortgage application which enables applicants to obtain a real time, credit scored, online decision for their mortgage in 10 minutes.

The entire application process at, including receipt of a decision and entry of all other relevant information, is expected to take individual applicants just 15 minutes to complete and joint applicants 20 minutes. Britannia says this is unique to the UK financial services market. Britannia&#39s new application channel allows applicants to be credit scored in real time. Other major lenders offer a decision in principle based around income multiples.

Dan Brearley, project manager at Britannia, says: “We wanted to offer our potential and existing members a fast and easy route to fully apply for a mortgage. To achieve this we have re-engineered our processes, which has seen a reduction of 60% in the data needed. The result is a true online mortgage application, which we were proud to have built internally.”


Platform set to unveil new brand strategy

Platform, the new one-stop lending arm of Britannia created from the merger of Platform Home Loans and Verso, will unveil its new brand on January 30. Platform&#39s range of products will include the buy-to-let and self-cert products that used to be sold through Verso and the non-conforming range that was under Platform Home Loans, plus […]

Building society runners aim for £300,000 Shelter donation

Ninety five employees from the building society sector will be taking part in this year&#39s Flora London Marathon on April 13 to raise funds for homeless charity Shelter. Funds raised by the sector will assist Shelter&#39s work with homeless children and continue the long-standing partnership between Shelter and the sector. Shelter works tirelessly helping 100,000 […]

Homebuyers holding off as market slows, says RICS

House hunters are holding off buying property until they can see which way the market is moving. The Royal Institution of Chartered Surveyors&#39 housing market survey for the final quarter of 2002 shows that potential buyers have put their plans on hold while waiting to see whether house prices will fall dramatically or whether the […]

Stroud and Swindon launches new fixed rate mortgage range

Stroud and Swindon Building Society is launching two three- and five-year fixed rate mortgages. Available from 24 January, the three-year product is fixed at 4.44% and the five-year at 4.74%. An early repayment charge is only made within the fixed rate period, and borrowers can repay up to 25% of the loan without charge at […]

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Pensions: trouble ahead?

The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath. 


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