The application of technology in house sales, including online mortgage applications and improvement...
The application of technology in house sales, including online mortgage applications and improvements in credit assessment techniques, is being felt as the process speeds up, according to the Council of Mortgage Lenders (CML).
It notes the time taken between acceptance of an offer and the final completion is still slow by international standards and that 28% of sales are estimated to fail after the offer is accepted. However, the average time to make a mortgage offer is now 15 days, down from 22 days in 1998.
