The tracker splits the application process into four steps by assessment, valuation, offer and completion and informs brokers of exactly what stage the application is at.
As long as advisers are already registered with the lender they do not need to register separately to use the service. Brokers can access the tracker from Natwest’s intermediary home page where they can track applications that were submitted through the Mortgage Trading Exchange or the intermediary site.
Brokers will need to enter the customer’s mortgage reference number, date of birth and surname to get a detailed update.
Sarah Taylor, service development manager, Natwest Intermediary Solutions, said: “The launch of our new Mortgage Application Tracker will bring valuable time-saving benefits to the intermediaries we do business with. Whereas previously they had to pick up the phone or exchange emails to get an update, they can now log on and get a full view of a customer’s application in a matter of seconds. And, because it’s ‘real-time’, they will get the very latest update whenever they log on.
“We expect that this will lead to a significant reduction in the number of calls that brokers need to make. Not only will intermediaries save time, they will be better informed. That has to be a real benefit.”