Accord Mortgages has reported a 28% improvement on its mortgage offer turnaround time year-on-year from May 2015 to May 2016.
is giving brokers quicker lending decisions due to changes to its underwriting processing, recording
The lender attributes this to a new approach to underwriting which it claims is providing a more efficient experience for brokers.
Last year Accord undertook a multi-million pound investment programme to fully train its case managers and 36 new colleagues as underwriters, giving them the autonomy to make “commonsense and responsible” lending decisions.
Developed from broker feedback, Accord’s underwriting approach means that every mortgage application is dealt with by an underwriter from when the application is submitted to when a mortgage offer is made, and brokers have direct access to Accord’s underwriting team throughout the case.
Charles Canning (pictured), managing director at Accord, said: “We’re always looking for ways to make our service match what brokers want. The aim of our new approach is to minimise work for brokers and deliver consistently great service.
“We’re training and supporting colleagues to take a common-sense and personal approach to mortgage lending decisions. We know every case is unique and we know it can make a big difference for brokers if they can talk an underwriter through the details. Brokers can also get in touch with us before they submit an application, which is helpful when dealing with more complex cases. We also ask for less documentation which means our process is quicker and more straight-forward for brokers and their customers.
“The changes have strengthened our overall sales provision, supporting our experienced and knowledgeable team of national business development managers (BDMs) and in-house business development advisers (BDAs). Providing brokers with direct access to underwriters, coupled with our web chat facilities, means we now have four avenues to support brokers to grow their business successfully, and we can work in partnership with intermediaries to meet client needs through competitive products and excellent service.”
Paul Bass, director of Prolific Mortgage Finance, said: “Accord has really ramped up its service. Having direct access to their knowledgeable underwriters is great – it speeds up processing and helps to iron out any potential issues from the outset.
“Accord’s underwriting team has impressed me with a number of complex cases, they have taken the time to review applications and worked with me to see them through to completion. The underwriting team are really delivering, and level of service complements the great work my BDM provides.”