Dozens of lenders sign up for Mortgage Brain service report

Published on

Mortgage Brain has revealed that nearly 40 lenders are now supplying updates through its lender service level report.

The technology firm launched the report at the start of October to keep advisers informed on the service levels on offer from different lenders, at a time of increasing activity levels.

Currently details from 35 residential lenders and 38 buy-to-let lenders are included in the service level report.

The lender service level report is available to anyone through the Covid-19 support hub on Criteria Hub, Mortgage Brain’s criteria-based sourcing solution.  The report provides advisers with a detailed look at what they can expect from participating lenders, such as the average waiting time for case updates and to talk to the sales team, whether live chat is available, and the typical time to offer.

The details in the report are updated each working day and incorporate information available on individual lender websites as well as information provided exclusively to Mortgage Brain.

Neil Wyatt, sales and marketing director at Mortgage Brain, said: “We are delighted to have so many lenders working with us on the lender service levels report. Many lenders are seeing record levels of applications as buyers of all kinds attempt to beat the Stamp Duty deadline, and this is understandably impacting aspects of their service.

“By bringing together this information into a single report we are arming advisers with the details they need to manage the expectations of their clients and ensure that cases get over the line in time.

“This transparency doesn’t just support advisers though; it also provides lenders with a boost. The lender service levels report means brokers will be better informed on whether an application is likely to have been reviewed, for example, removing the need to call for an update and so relieving some of the strain. The report is a perfect example of how the various elements of the mortgage market can work together to ensure the process is more efficient and straightforward for all parties.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...