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Yorkshire Building Society launches consumer online mortgage AIP

by: Adam Williams
  • 05/08/2015
  • 0
Yorkshire Building Society launches consumer online mortgage AIP
Yorkshire Building Society has upgraded its online systems to allow borrowers to start the mortgage application process online.

The mutual said the changes would make the application process easier and more flexible for customers.
It said customers can start the mortgage application online and gain a mortgage approval in principle in their own time.

Once this is complete the customer will visit a branch or call the building society to complete the deal.

Yorkshire said this would give borrowers the assurance of having mortgage funding in place, but not committing them to a specific mortgage, loan size or term length.

The result is valid for 30 days and is subject to further checks once the application progresses.

Nick Gander, e-commerce manager for Yorkshire Building Society, said: “By giving borrowers the ability to begin their application online, then transfer to a branch or complete things over the telephone if they would like more guidance, they can do things when and how it suits them.”

At a financial services conference in May this year, brokers were warned that lenders were investing in technology which would help them to boost their direct-to-consumer sales. Speaking at the event, Robert Sinclair, chief executive of the Association of Mortgage Intermediaries, said game-changing technology from banks would hit the market in 18 months to two years’ time.

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