Key Takeaways:
- Skipton has partnered with Eligible to engage borrowers earlier, ahead of mortgage renewal.
- Focus on data-driven communication to improve retention and borrower experience.
- Aims to reduce reliance on manual processes
- Comes amid rising fixed-rate expiry volumes.
The partnership aims to improve early borrower engagement
Through the partnership, the mutual will use timely, data-driven engagement to help borrowers understand their options before their mortgage term expires.
Skipton Building Society will aim to reach borrowers earlier and more proactively, to reduce uncertainty and improve retention, as well as the experience for borrowers and brokers.
How Skipton and Eligible are improving the mortgage renewal experience
The mutual will use less reliance on manual processes, which it said would free up its team and enable them to work on personalised support.
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Charlotte Harrison, CEO of home financing at Skipton Building Society, said: “Providing clear and timely information is an important part of supporting our members. Working with Eligible will help us offer earlier guidance ahead of renewal, ensuring members have what they need to make informed decisions.”
Rameez Zafar, founder of Eligible, added: “As fixed rate expiry volumes continue to rise across the market, with many borrowers potentially going onto higher interest rates than they have been paying previously, lenders like Skipton are recognising the importance of engaging members earlier and more meaningfully.
“This partnership is about giving borrowers clear, timely information at the moments that matter most, while helping Skipton deliver a more efficient and joined-up renewal experience at scale.”
