Principality has created a new case-tracking service for brokers, which will give intermediaries the opportunity to track the development of individual mortgage applications.
The Brokerpoint service is designed to give brokers an easier means of monitoring mortgage applications online, allowing them to more easily enquire about their clients’ mortgages.
With resources enabling brokers to view their case portfolios, as well as the option of scrutinising specific cases by entering the surname and mortgage enquiry numbers of their customers, Brokerpoint sorts stages of the application process into five sections: submitted, underwriting, offered, awaiting completion and complete.
Brokerpoint was developed following feedback from a 2,000-person sample of brokers in England and Wales. It can be accessed on the intermediaries section of Principality’s registered broker web page.
This latest service from Principality was launched as part of ongoing plans to expand its broker arm, which includes increasing the pool of underwriters based in its Mortgage New Business Centre, as well as boosting its number of business development managers to increase in-person contact with its brokers in 2017.
Despite being one of the top 20 largest mortgage lenders in the UK, according to the Council of Mortgage Lenders, Principality’s recent addition of an online mortgage application-tracking tool has arrived long after a throng of similar products offered by other big players in the industry.
However, the provision of accessible tools to tackle otherwise lengthy processes will always be welcome among brokers, especially given the fact the industry is becoming increasingly online-focused.
Brokerpoint does not operate in wholly different ways to existing products, and given the function of the tool, the straightforward step-by-step system is probably the best format for most online case tracker services.
As well as enabling brokers to view and search for client cases, the service outlines any documents required to continue with applications, with confirmation of receipt of these documents included once obtained. Among other features, it also gives brokers scheduled dates for valuation once Principality has acquired the relevant details.
Mortgage-tracking tools are generally welcome in the property industry and Brokerpoint is no exception. Those seeking to save time would do well to sign up.