View more on these topics

TMB to launch online mortgage processing service

The Mortgage Business is launching an online mortgage processing service for intermediaries – TMB Interactive. 

TMB says the system will speed up the whole mortgage process.  It will help intermediaries and packagers process cases more quickly and, in most cases, will give an instant online decision with an immediate agreement in principle.

 

The fast-track system is being rolled out to all intermediaries and packagers in May.  It will give intermediaries the facility to process mortgage applications entirely electronically – with the facility to work both offline and online forms. TMB has introduced credit scoring for the first time so that straight forward cases can get an instant decision.  More complicated cases will be referred to an underwriter. 

Bill Dudgeon, managing director at TMB, says: “Converting an agreement in principle into a full mortgage application with TMB Interactive is quick and easy. With the use of advanced technology, TMB Interactive also offers a secure email service and real time case tracking which offers both peace of mind and quick delivery.”

Recommended

Clydesdale targets brokers with two-year fixes

Clydesdale Bank makes its first big push into the intermediary market this week with the launch of a selection of two-year fixes exclusive to Charcol. The vanilla deal is available to all borrowers and is fixed at 4.49% (5.7% APR). There is also a remortgage deal fixed at 4.69% with free valuation and free legals. […]

Industry figures voice concerns over HIPs

Leading players in the housing industry voiced considerable concerns about aspects of the Housing Bill during a parliamentary briefing organised by the National Association of Estate Agents last week. The briefing brought together representatives of the property industry to brief members of both the House of Commons and House of Lords with regard to concerns […]

FSA applications to peak this week

The FSA says it is expecting another peak in applications before April 30 (this Friday) – the date by which completed applications have to be submitted for a firm to be certain that it will be processed by October 31. The regulator says it will make every effort to ensure that applications received after that […]

SWB to revamp execution deal

Scottish Widows Bank is being forced to revamp the execution-only equity release mortgage product it distributes with Saga, the service provider for elderly people. The product was launched last summer but from October 31, when the FSA starts regulating lifetime mortgages, this type of delivery will be outlawed and people must receive advice. Scottish Widows […]

Newsletter

News and expert analysis straight to your inbox

Sign up