IFAs have given the thumbs up to Standard Life's three minute mortgage suggesting that the service could prove a hit if it lives up to expectations.
Mortgage brokers say they would have confidence offering the mortgage despite the fast turnaround time.
Bridge Baxter managing director Nick Baxter says: "Because the bank is linked to Standard Life which has an excellent reputation I think it will be able to deliver a high quality product within the time frame it has set itself."
Chase de Vere managing director Simon Tyler says: "The concept of agreeing a mortgage in three minutes is not new. What will interest IFAs is if it can actually be processed in nine minutes after all the relevant checks have been made."