Lenders producing faster mortgage offers
Over the last month many mortgage lenders have caught up with their processing backlogs, bringing service standards back in line with market expectations.
It wasn’t long ago that some banks and building societies were taking ten days to look at the supporting mortgage documentation and then another five days for it to be assessed by an underwriter.
Aaron Strutt, product manager at Trinity Financial, says: "If our clients need a fast mortgage offer we will submit their application to a lender with fast processing times, although this has been quite challenging in recent months."
Woolwich is producing some particularly quick mortgage offers thanks to their revamped computer systems. Providing all of the documentation is submitted on application and there are no issues with the applicant or their property, it is possible to secure a mortgage offer in as little as four working days.
Santander is currently taking about seven or eight days to produce a mortgage offer and Nationwide Building Society is taking an average of eight days.
If you would like help to secure a fast mortgage offer, call Trinity on 020 7016 0790.
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