Edeus has revealed that eight out of 10 brokers think an instant binding decision is the most important service a lender can offer.
The survey by the lender, which aimed to reveal broker’s attitudes to lenders and their offerings, has revealed that the majority of brokers believe the ability to process business quickly is crucial.
When asked to rate a range of lender features, 84% of brokers stated that the ability to secure an instant binding decision was of high importance. Speed of offer was also highly valued with 63% of brokers considering it to be of high importance.
Simplicity of criteria and access to underwriters were thought to be highly important by 32%, and 20% respectively.
Whilst product rates and criteria are fundamentals of the advice process, and will always be important to brokers, these findings confirm the growing expectation of service driven solutions from lenders.
A spokeswoman for edeus says: “The added value that an efficient lender service can provide should never be under estimated. Lender’s product offerings are now increasingly assessed in relation to service.
“Ultimately brokers want quick decisions and fast processing. With decisions in seconds, offers available in minutes, and funds available in days, edeus understands the importance of service. Lenders are vital to broker’s productivity and it is no surprise these features are held in such high regard.”