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Lender says...

Woolwich has enhanced its application functionality on the Mortgage Trading Exchange and has now made its rate switch application form available to all users of the platform.

David Finlay, intermediary business director of Woolwich, said: "The electronic rate switch application form has been designed to offer intermediaries a faster and more efficient mortgage submission process for their clients when renewing their product selection with Woolwich.

"All of the new forms link directly into the Woolwich back office system making a quicker and slicker process for intermediaries to submit cases to us electronically."

The new form, is designed to save advisers both time and money in rekeying data and submitting applications for processing, will automatically pre-populate all necessary client information, which is already held on an intermediary's database and integrates directly with the lender's back office system.

We say...

Plus points... Anything that speeds up the application process and makes life easier for intermediaries is to be welcomed.

Could do better... There is nothing unique about this form and technology-wise Woolwich is still just catching up with other lenders.

Adviser says...

David Hollingworth, head of communications for Bath-based IFA London and Country Mortgages, said: "The key is making life easier for the adviser and as a knock-on for the client. Being able to pre-populate client information is key to this and one of the real strengths of using a common trading platform like Mortgage Trading Exchange. Cutting out any duplication of client detail entry to further an online application is a great timesaver and helps to speed everything up.

"Woolwich's application form is simple to follow and adding additional functionality can only be a positive move.

"Being able to effect a product switch for a client through Mortgage Trading Exchange will make life a lot easier for all concerned and should reap dividends for Woolwich too. Although Woolwich was playing catch up on technology in recent years, it is very encouraging to see ongoing enhancements to its Mortgage Trading Exchange functionality."

Rating: 3/5 stars