NatWest says it is the first UK bank to offer paperless mortgages.
The lender’s customers can now apply for completely digital mortgages that let them share and verify documents online.
Customers have no need to send signed paperwork or personal and private information through the post.
A NatWest statement says: “It is the first time a customer in the UK has been able to apply for a mortgage without paper copies of documents being produced.”
All NatWest mortgages, applied for over the phone will be offered paper-free.
The lender says this could save more than 4.4 million sheets of A4 paper a year.
Before a call with a mortgage adviser, customers can upload the necessary documents, including driving licence, passport or payslips.
A NatWest mortgage adviser will then call, guide the customer through the process and help with any questions
The customer will ‘sign’ the final documents electronically using a mouse or tablet.
NatWest director of mortgages Lloyd Cochrane says: “This innovation will make the process of buying a new home much simpler, easier and faster for our customers, transforming the way homes are purchased in the UK.”