BM Solutions is celebrating the 18-month anniversary of BM Solutions Online in style after revealing that nine out of 10 of its mortgage intermediaries now submit business via its online service.
During the last year and a half BM Solutions says it has launched an online cast-iron mortgage offer; has automated procuration fee payments direct into brokers' bank accounts and has launched its owl compliance campaign designed to draw attention to the compliance benefits of online services. BM Solutions is still one of the only lenders in the market to have stated that it will offer a fully compliant and guaranteed Key Facts Illustration directly from its website.
BM Solutions also recently revealed that many lenders are up to 10 'internet years' behind with technology and issued a rallying cry for lenders to launch online services as early as possible before Mortgage Day.
Steve Sandiford, head of products at BM Solutions, says: “BM Solutions Online has been incredibly successful. A total of 90% of our brokers submitting business online after just 18 months is a real achievement. Hopefully this success will encourage other players to launch online services as early as possible.
“We truly believe that the only sustainable way to transact business post-Mortgage Day is via online services. But intermediaries need time to get used to a lender's online system before regulation – that's why the industry needs to get moving.”
BM Solutions launched its online service, bmsolutions.co.uk, in January 2003. It states brokers can now secure a virtual offer in less than one minute. The time it takes to submit a case has been reduced by the many features on offer including product matching, intelligent application forms and case tracking.