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Lender service is best it’s been but others must improve – NatWest
Mortgage lender service is the best its ever been but other parts of the property buying process need to be improved to make a real difference, NatWest has said.
The bank highlighted progress in the way lenders interact with brokers and customers to help speed up mortgage offer times, but warned that they can “only be as good as the slowest part of the market”.
Speaking on Mortgage Solutions Television, Luke Christodoulides, senior corporate account manager at NatWest, said technology advancements had already played a big part in the market.
“It’s very easy to forget, service is in the best place it’s been in, in terms of the mortgage market,” he said.
“You used to see a lot of lenders would go hell for leather in terms of getting the business in, couldn’t handle the volumes they were dealing with and then pull back to get their services straightened out. You still see that but you don’t see it as much.
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“There’s a lot of improvements that have come that have benefited both the lender servicing times and the broker times as well.”
He added that lenders can get offers out in the same day but that would not make a significant impact “if the whole chain around that whole process doesn’t improve. And that’s what needs to change”.
https://vimeo.com/365267998
The panel is:
Luke Christodoulides, senior corporate account manager – NatWest
Ken Deegan, chief technical officer – Mortgage Brain
Dilpreet Bhagrath, customer experience manager – Trussle