Abbey National is targeting those intermediaries still not processing mortgages online. Over 13,000 website demonstration compact discs will be mailed out by Abbey National to intermediaries, targeting those who are either not members of its introducer internet website or who are registered but not submitting their mortgage business online.
Jan Errington, group marketing manager at Abbey National for Intermediaries, said: ‘The demonstration disc takes the user through the main features of the site step by step to show just how easy it is to complete a mortgage application online. It is very intuitive and highlights the advantages of online applications in terms of speed for intermediaries..
Industry online applications are rapidly becoming standard. UCB Homeloans, Bristol & West and Alliance & Leicester have reported that over 50% of their intermediary business is submitted online. BM Solutions latest Online Index, tracking brokers’ attitude to technology, found 68% submit and track at least some of their mortgages, but only 16% did so with over 25% of their cases.
Since its launch in 2001, over 14,000 intermediaries have registered with Abbey National’s intermediary site, and the site accounts for over half of the lender’s intermediary business.