Vida has introduced an intermediary product switch portal to provide brokers with a simple way to undertake a product transfer for their clients.
The intermediary product switch portal is a digital solution developed in conjunction with brokers. It provides tailored product solutions, offering the best options for the client and can be arranged in 15 clicks, taking less than 15 minutes to complete.
Following a pilot programme, Vida is now able to offer the intermediary product switch portal to all brokers.
Vida will pay a procuration fee of 0.30% on every product switch completed.
Richard Tugwell (pictured), director of mortgage distribution at Vida, said: “As a market leading lending specialist, we are committed to making our processes as easy as possible, providing a great range of options for our broker’s clients.
“The increase in product transfers is set to continue, so launching our best of breed product switch portal means brokers will be able to complete the product transfer journey in less than 15 minutes with everything completed online.
“We have worked very closely with our intermediary partners to design a bespoke process based on the insight and experience they have gained from using existing lender systems and therefore we have been able to create a simple process that gives them exactly what they need.”