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A&L moves all IFA mortgages online

Alliance & Leicester claims to be the first lender to move 100 per cent of its intermediary mortgage business online.

A&L already receives over 90 per cent of intermediary applications online and has decided to move all its business online from October 1.

It says this will help intermediaries with their record-keeping and enable them to meet their compliance obligations from October 31.

A&L&#39s online application system provides intermediaries with a fully credit-scored decision and can confirm the appropriate packaging requirements within 60 seconds.

The company has started contacting intermediaries to explain the benefits of the online system and help them register. This roll-out will continue throughout September.

A&L says it was also the first lender to launch an online mortgage trading system for intermediaries in 2001.

Head of intermediary mortgages Merhdad Yousefi says: “Following the success and popularity of our system, we have taken the decision to move 100 per cent of our intermediary business online.

“Our system has speeded up the whole mortgage application process for intermediaries, providing quicker decisions, faster processing, easy tracking of cases and less paperwork.”

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