Mortgages  

Skipton launches day one mortgage valuations

Skipton launches day one mortgage valuations

Skipton Intermediaries is launching day one mortgage valuations on all applications, following a trial which found a reduction of up to four days in the application to offer wait time for brokers and their clients.

The building society’s broker branch will now be immediately instructing standard valuations on receipt of all complete purchase and remortgage cases from brokers.

It has also extended the hours of its e-mortgage service, to help broker partners submit complete cases online up to 10pm in the evening.

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A web chat service was introduced in February, available between 9am and 5pm, Monday to Friday.

In April, this was extended to the e-mortgage service, giving mortgage illustrations, decisions in principle, reprinting a previously completed forms and creating new ones.

Paul Darwin, Skipton’s director of intermediary relationships, said the changes were motivated by a push to improve the speed and efficiency of services offered.

Mr Darwin said: “We wanted to trial something that would make a difference to our broker partners and we believe the introduction of the day one mortgage valuations and extend online hours has enabled us to do that and provide them with a service that best suits their needs.

Gerry Dupree, managing director of financial advisers Gerry Dupree Ltd, explained his firm took part in the trial and welcomed the service being rolled out.

Mr Dupree said: “It is essential for all of our clients that when purchasing a new build home we act quickly upon their application, the day one trial enabled us to do this, ensuring that our clients received their mortgage offer within one week of submitting their complete application.”

peter.walker@ft.com