View more on these topics

Fleet Mortgages launches instant DIP system

Fleet Mortgages has launched an automatic decision-in-principle system that provides brokers with instant confirmation of whether their client has been accepted or not.

The system will be used for cases that score well on its credit-scoring system.

However, for other cases, the lender will continue to use its manual DIP process.

Fleet Mortgages chief executive Bob Young says: “It’s not our intention to leave advisers and their clients hanging for days waiting to hear whether we will lend, so alongside our manual DIP process we have been able to introduce our automatic DIP accept/decline system.

“Where possible this will give an immediate response which will be especially useful for those advisers with clients who score highly on our credit-score system, and will also allow those who are declined to swiftly pursue other lending avenues.

“This is not a return to an instant ‘Yes’ without validation however as Fleet Mortgages will still complete a full underwrite of each case once we have received the valuation and the items requested.”



Spicing up the market

Targeting near-prime borrowers who have got back on their feet, new lender Pepper UK plans to employ flexible underwriting and offer excellent service


Cameron tells MPs to back him or resign over EU deal

Prime Minister David Cameron has warned ministers they will have to back him or resign over any deal he negotiates over Britain’s membership of the European Union. Speaking at a G7 summit in Bavaria yesterday, The Guardian reports Cameron was asked whether the prospect of a free vote for ministers had been ruled out. He […]


Barclays to launch fee-free range from 1.85%

Barclays will tomorrow launch a new range of fee-free mortgages with rates starting at 1.85 per cent for a two-year fix to 60 per cent. The range of two-year fixes goes to 90 per cent LTV, which will be priced at 3.65 per cent. Five-year fixes start at 2.65 per cent for a 60 per […]


News and expert analysis straight to your inbox

Sign up