LMS launched its remodelled packager-based remortgage service at Jerez last week.The revamped remortgage service is designed to be cheaper and faster, with data collation taking place at the front of the remortgage process with automation used wherever possible. Dominic Toller, director of marketing and new business at LMS, says: “Traditionally, remortgages are done in the same way as purchase mortgages – it’s inefficient. What LMS has done is stripped the remortgage process back to basics and then built it back up. “What we can now do in seconds would previously have taken days if not weeks.” There is a 195 fee for remortgages up to 200,000 and packagers can decide whether they want to offer this as cashback on products and then market deals as fees-free remortgages. Alternatively they can pass the cost onto clients.” Jeff Knight, director of marketing at GMAC-RFC, says he welcomes steps to improve turnaround times. He says: “Speed and certainty are the two big drivers for consumers and brokers in purchase and remortgage cases. Technology is helping in this regard.”
- Top trends
Over half the population of the UK experiences unforeseen financial occurrences yet Lloyds TSB says only 20% of people are able to use savings to cover these events.
Figures released by the Bank of England show that the number of new mortgage approvals for home purchases in May were 117,000, up from 106,000 in April. Approvals, which are an indicator of housing market demand, are up 23.2% from the same period last year and are well above the historical average of 97,000 per […]
Guaranteed and Genesis Home Loans is now offering its packagers the use of its online mortgage DIP facility. Previously available to only Appointed Representatives and Directly Authorised brokers, the online DIP service will now be added to the GHL packaging website www.ghl-live.co.uk/packaging for use by the groups network of DA packagers. Having access to the […]
London Mortgage Company has launched a brand new range of first charge specialist mortgage products. The new products will be linked to the Bank of England base rate and are divided in to six different categories of impaired credit, starting at near prime products (targeted at applicants with up to 1,000 of County Court Judgments) […]
The introduction of ground-breaking pension freedoms in April 2015 has created some uncertainty for employees and employers alike, and they are looking for help. With further changed announced in the summer Budget, employees really need help to understand how the changes affect them.
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