Abbey National sees online mortgage applications soar
10 April 2003 | 5397 views | 0
Abbey National's interactive site for intermediary mortgage applications, Introducer Internet, has processed over £5 billion agreements in principle (AIP) and £2.4 billion full mortgage applications (FMA) in the quarter ending March 2003.
Since its launch in October 2000, 14,000 intermediaries have signed up to the service, which has become the single largest channel for mortgage completions within the enterprise and now accounts for just over half of Abbey National's intermediary mortgage business.
The site includes a 60-second, credit checked AIP and real time mortgage case tracking.
Ambrose McGinn director at Abbey National for intermediaries says: "Many of our customers highlight the efficiency of the system and its ease of use in helping them write more business."