The soft credit footprint is a reduction from the hard footprint which would have previously been left on an applicant’s credit file when submitting a decision in principle (DIP).
Now DIPs will not impact the customer credit score, with the hard footprint only applied to a credit record at application submission.
Meanwhile, Nationwide has also updated its new case update and overview pages to give advisers more information and greater detail, which will highlight if the broker needs to act.
Information available includes application details, DIP and offer details, conveyancer details and full product details including reservation date.
Nationwide intermediary relationship director Ian Andrew (pictured) said the lender was focusing on key areas of its process to improve following broker feedback.
“Having a DIP that does not leave an imprint on a credit file at an early stage improves the process both for intermediaries and customers and is something brokers have asked us for,” he said.
Andrew added that the case tracking system and help text changes should smooth the journey for brokers, make case tracking more efficient and reduce unnecessary calls for updates.
Borrowers aware of hard footprint
L&C Mortgages associate director – communications David Hollingworth said: “Borrowers are increasingly aware of the potential impact that a hard footprint could have on their credit score, so the news that Nationwide is shifting to a soft DIP will be well received.
“The changes to the case management tracking tools underline the fact that Nationwide is listening to broker feedback in an effort to evolve and enhance its platform.
“Providing more information online should help limit the need for unnecessary calls, increasing the efficiency for everyone and ultimately giving customers a better overall experience.”
TMA development director Lisa Martin added: “It’s great that Nationwide can now give our clients decisions without leaving a hard footprint on their credit file.
“The enhancements to the case updates page will really help us to keep our clients informed throughout the application process, while it ensures that we, as brokers, are fully engaged every step of the way.”
