Pepper Money has introduced a new section on its website to provide brokers with current information on its service levels.
The service levels page provides brokers will show advisers how long the lender will take to review and process a submitted case.
It provides the dates from which Pepper Money is working on a number of key stages in the application process. These include DIP referrals, applications, responding to application broker portal messages, reviewing valuations and offer assessments.
The page also features the average time taken to answer calls, packaging tips and a tool to help brokers understand what supporting documents are required based on the application type, loan purpose and employment of the client.
The service levels page is available now at www.pepper.money/mortgage-service-levels//mortgage-service-levels/
Paul Adams, sales director at Pepper Money, said: “We know that brokers and administrators are under a lot of pressure at the moment, managing the expectations of their customers, estate agents and other stakeholders in a very busy time for the market.
“Lender service is such a critical part of a broker’s recommendation, particularly at times like this. And, in order to be able to choose a lender with confidence, it’s important to have access to up-to-date, transparent information about how long they can expect to wait to proceed through each stage of the application process.
“Publishing our service levels is about more than just putting a page on the website. We have refined our processes and enhanced our communication to ensure we can provide brokers with transparent and accurate information, so they always know where they stand. And let’s not forget the administrators who work with brokers and are the unsung heroes of the industry. At Pepper Money, we have already recognised the role of administrators with the sponsorship of two industry awards, and we hope that today’s announcement will go some way to helping them in their roles.”