I could not help but chuckle to myself on the commute home when I found myself watching the Grand Prix on my fellow commuters iPad. Sure, the highlights of his programme were not meant for communal pleasure, but what does he expect sitting on a train with an iPad on?
As I watched Hamilton come flying round the bend, my phone pinged. It was an update from Santander. Valuation received. Five seconds later…another ping. Application offered. A purchase mortgage application offered in four days. The irony tickled me, that while they were no longer sponsors of the British Grand Prix, they are now one of the fastest lenders. The choice to instruct valuation on day one is something we have been crying out for from Santander for a while. Now that it has been delivered, there is more speed behind them than the simple “pedal power” of a Boris Bike.
As some of the high street lenders have been struggling with their SLAs, Santander seemed to have stolen an engine from their Ferrari team and injected some serious speed into their already enviable model. Application to offer speed has long been dominated by the likes of Halifax and Nationwide, but Santander’s arrival seems destined to capture a share of the purchase market that previously alluded them. They were never the ‘go-to’ lender in a contract race, but this slight tweak shows signs of changing that.
‘Pure genius’
Skipton have also improved their service levels. A recent app to offer from them on a purchase in 5 days, shows that despite many brokers expressing concern over timescales in the current climate, there are still some lenders out there that can hit the required timescales if we, the broker, can get the required documents to them at the time of submission. Not two days later, not five days later, but at the time of submission. Skipton’s online system is easy to use, easy to navigate and if there are any problems, their USP of having a help desk open 8am to 8pm is pure genius. Most brokers are out in the day in meetings and many key cases after hours or first thing. Nice work Skipton. The addition of another top BDM is also helping them up their share in the London market.
I cannot talk about speed, acceleration and brake horse power without giving mention to Nationwide. Still with the ability to fly off from the lights, they are one of the fastest out there still, and another purchase offer from them in five working days of late proves they are still at the starting grid, revving their powerful engine for all to hear. They have always been renowned for the speed, and this continues to be the case, but this tactical move from General Fordham at Santander to capture those in need of a quick valuation will mean the “constructors’ table” will make for an interesting read at the end of the season.
Key to success
Like many different types of races, the key to success is all about the start. How quick you can get off the blocks, away from the lights, or through the gates. Lenders are making great progress in ensuring this is happening quicker and gives us a head start in our personal race to the offer. While many of us are still spending time on hold for updates, at least we can get off the blocks quicker. As we all know the key to success in this business is referrals and recommendations. These come from being professional, demonstrating a key knowledge of the market and above all else, delivering fast! Speed is the key. With fast track a thing of the past, it is our ability to package and our ability to get over the “offer line” that will ensure our satisfaction from our clients, and will gain us more fans.
It is speed that has earned Hamilton his riches, similarly, speed will help us in our quest to success. Sadly, however, we may not have the need to move to Switzerland but here’s hoping.
So, my fellow commuter…what else do you have on your iPad? I am loving The Walking Dead right now…
