Specialist lender Mortgage Express aims to complete up to 50% of its business online by the end of next year, according to the company’s managing director, Tim Dawson.
The news follows the implementation of Mortgage Ex-press’ Online Services which launched in February this year.
Dawson said: ‘It is going well and we are doing around 20% of our business online from zero at the start of the year. We are looking to do up to 50% by the end of next year.’
He said his sales team were in the process of showing brokers how the online facilities worked and believed once they had used them two or three times they would be converts.
Mortgage Express’ intermediary partners now include Mortgage Next, Mortgage Intelligence, DBS, Zurich Advice Network, ZIFA, Pink Home Loans, Legal & General ‘ tied & IFA, Misys, The Marketplace, Norwich Union and Prudential.
Dawson said he expected the online services to be extended to include packagers at some time in the new year although he would not discuss specifics.
For intermediaries, decisions in principle can be gained in three minutes as opposed to 24 hours, and the accuracy levels of the application forms are greatly improved, according to Dawson.
He added: ‘While it is the same products being sold, the service has improved and it is available 24-hours a day.’