Three key ways to accelerate application turnaround times – Moloney

It’s the age-old question and my usual reply is that when submitting a case it is essential you provide the correct information as and when it’s required.

However, it’s not always as straightforward as it sounds, and all too often it’s easy for key information to be missed from an application.

This can be frustrating for everyone involved.

Your customer wants their application processed as quickly as possible, you want your customer’s application processed as quickly as possible and the lender wants to process your customer’s application as quickly as possible.

So with many of us still working from home, I thought this would be the perfect opportunity to share some top tips to help you with time management and improve application efficiency.

Uploading the right documents

It sounds simple, but double checking your documents can make a huge difference.

Make sure you always check the documentation requirements of the lender you are submitting a case to.

As a rule of thumb, it’s worth remembering that the more relevant information you can provide, the quicker the final outcome can usually be delivered.

Providing the right information and documents to a lender to support a mortgage application is essential.

Don’t miss the little details

It’s true that the devil is in the detail.

Always double-check the spelling of names, dates of birth, address history and that the income keyed corresponds with the evidence you provide.

Always check how the lender wants the applicant details typed, the National Insurance numbers are correct and if a case has been pre-agreed or discussed, that you add a note confirming details.

Pay close attention to bank statements

It can be really frustrating for you and your customer if a case is held up because of an issue with their bank statements.

Always check they are consecutive and contain all of the key information that’s required.

Fortunately, specialist lenders are perfectly placed to help you with your more challenging cases.

These lenders know that every case is unique with its own individual requirements, and if you have any questions about what information you need to provide they can guide you through the process.

We know nobody’s perfect, including lenders, so we want to work together with you to give your customer’s case the best chance of going through quickly and with as little fuss as possible, instead of facing the frustration of it being held up due to some missing or incorrect information.