Scottish Widows Bank has launched an interactive mortgage application service that enables IFAs and brokers to submit agreements in principle and track cases online.
The service will enable IFAs to submit agreements in principle electronically with no need for a client signature. The bank says users of this service will receive a decision from its credit team within one hour.
A full mortgage application can be submitted online for the bank's professional, flexible and graduate mortgages. Users can also track any cases submitted online.
Gordon Bowden, business development director, Scottish Widows Bank, says the service enables the bank to commence processing and underwriting as soon as the case is submitted: "This can cut a number of days out of the current processing cycle."