Nationwide Building Society has made improvements to several processes within NFI Online.
These cover client income verification and Further Advance application amendments.
Experian work report:
The society uses a tool called Work Report from Experian in NFI Online that can automatically verify a broker’s client’s income. Nationwide says it has now made it easier to use; the broker just enters the employer’s name and the applicant’s National Insurance number to obtain a Decision in Principle (DIP).
The process:
- NFI Online includes a screen in the ‘Employment and Income section’
- The broker provides the client’s Employer and National Insurance number
- If the company is registered to the service, and the data matches, this will remove the need to upload the payslip.
Nationwide has stressed that the broker should not attach proofs to an application if they haven’t been requested as this may delay the progress of the case.
Amending a submitted case for Further Advance applications:
Brokers can now amend the following information for further advance applications already submitted, using the ‘Amend case’ option in NFI Online:
- Loan amount
- The reason for additional borrowing
- Mortgage term
- Product
