You are here: Home - News -

Survey reveals strong demand for online services

by:
  • 01/02/2001
  • 0
Intermediaries want an online service that allows them to find both suitable mortgage products and t...

Intermediaries want an online service that allows them to find both suitable mortgage products and to issue quotations for their clients, according to a new survey by the Intermediary Mortgage Lenders Association (IMLA).

The survey reviewed the opinions of financial advisers regarding lenders’ and independent suppliers’ internet-based mortgage services.

It discovered that intermediaries want better online services which will allow them to send electronic applications and conduct online case tracking. Another common request was the ability to access lenders’ products through a single point of contact.

A quarter of respondents said that they would willing to conduct more than 80% of mortgage transactions online, but over two thirds would want access to at least 60% of lenders if they were to use the internet when conducting mortgage business.

The research found that most intermediaries felt that the online market would not take off until a more comprehensive system becomes available. However, support for a comprehensive service from either one of the existing providers or from a new initiative coming from the lenders or an industry group was evenly split.

John Heron, chairman of IMLA, said: “There is a definite demand for an electronic service offering advisers a broad range of functionality. The real problem, however, is not as much with the technology as it is getting lenders to adopt common data standards thereby supporting a process that will allow a service provider to offer accurate information on, and direct access toall lenders.”

Tags

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
HSHL launches in Northern Ireland

High Street Home Loans has announced that its full range of mortgage products is to be made availabl...

Close