Marlborough Stirling today announced that sixteen lenders have already indicated they will take part in its 2004 mortgage benchmarking study, developed in conjunction with the Council of Mortgage Lenders. This figure, which is likely to increase further, compares with a total of thirteen lenders who took part last year. The closing date for applications to participate is 11th June.
The study enables lenders to identify and analyse their competitive position within the mortgage industry, providing them with a truly independent analysis against an industry benchmark. Lenders can then identify their areas of competitive advantage, increase efficiency and reduce costs.
This year’s study will not only benchmark the point of sale and application processing stages of the mortgage process, but will also include additional topics such as intermediary lending, further advance processing and management of redemptions.
Phil Heaton-Jones, product development director at Marlborough Stirling, comments:
"The success of last year’s study has led to even more interest from lenders this year. The benchmarking study is rapidly establishing itself as an invaluable research tool for mortgage lenders and, this year, participants will have the added benefit of being able to track the findings against those recorded last year. We expect that the total number of participants will exceed twenty."