UK bank Abbey National has received online applications for mortgage 'agreements in principle' worth £5 billion since the launch of it's Introducer Internet service twelve months ago.
The Internet service allows introducers to obtain a fully credit checked agreement in principle for a mortgage application within 60 seconds via the bank's Web site. Users can then keep track of their case from initial application to completion via its online mortgage case tracking facility.
To date, the bank has clocked in the region of 200,000 tracking enquiries.
According to Ambrose McGinn, Abbey National's director of e-commerce, over 11,000 introducers have registered to use the site.
Intermediaries can also use the site to call up immediate household insurance quotations and applications.