Amber launches electronic DIP facility

Amber Homeloans Limited has launched the first phase of its enhanced online solutions package – an electronic Decision in Principle facility for mortgage intermediaries.

The DIP facility promises to provide easier access for brokers to Ambers product range.

The system will provide a binding decision to lend of either an automated yes/no decision within minutes or a decision based upon referral to an underwriter within one working hour.

The DIP system also incorporates the credit search, helping brokers to identify appropriate products for their clients.

The product cascade facility highlights the possible solutions Amber can offer to suit specific client needs, so the broker does not need to resubmit if the product initially desired cannot be offered.

However the system does not guarantee the availability of a particular product and decisions are subject to valuation.

Mike Perry, associate director sales and marketing at Amber, says: The launch of our new DIP facility is a natural progression for the business.

We have been actively developing the direct element of our business during 2005-06, and we anticipate that the online DIP will prove to be a powerful tool to support brokers submitting applications directly to Amber.

The first step for the intermediary is to pre-register for the DIP, which can be done from today via the Amber website.

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We will shortly be giving details of the launch of the online DIP, the first stage of our online solutions, and we are currently working on other enhancements including a full online application.

The development of this service has been brought about by intermediaries coming to Amber on a direct basis.

However the packaging community is integral to the continued success of Amber. Amber is reaffirming this commitment to support the packaging community through the recent appointment of a national key account manager who will work closely with packaged panel members.