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Skipton’s mortgage system offline on MMR day

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  • 22/04/2014
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Skipton’s mortgage system offline on MMR day
Skipton Building Society's online mortgage system will not be ready to provide decisions or accept mortgage applications in time for the Mortgage Market Review launch on Saturday.

In an alert to brokers Skipton has advised its eMortgages system will be unavailable on 26 and 27 April because it is still to make technical enhancements required to comply with the MMR.

Santander experienced similar technical glitches at the beginning of the month when it switched on its MMR-compliant intermediary platform leaving brokers unable to log in.

But the lender managed to iron out its problems within a few days and the site is now fully operational.

And Halifax’s online portal went offline for 24 hours after experiencing difficulties when it tried to introduce changes to its product transfer and further applications services as part of its MMR changes.

In a survey carried out by the Intermediary Mortgage Lenders Association in February 36% of lenders said they were concerned about issues which may come about as result of changing IT systems to become MMR compliant.

Peter Williams, executive director of IMLA, said: “In the short term we are facing a likely drop in mortgage approvals as new practices are set in stone and while any remaining gremlins in new IT systems and processes are ironed out.”

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