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Chelsea site claims DIP in five minutes

Chelsea Building Society is setting up a mortgage intermediary website which it claims can provide an adviser with a decision in principle in five minutes.

The site has been developed over the last 12 months and aims to provide a simple and speedy application process for mortgages and allow advisers to review the status of cases.

Chelsea says the site, www.chelseaintermediary.co.uk, will be able to give a decision in principle within five minutes while referrals will be dealt with in two hours.

The society is sending out a mailing to advisers containing a branded tea bag, which Chelsea says is for them to spend the time saved by the service doing something else.

It is also offering a day at Thruxton racing circuit to one lucky user of the site.

Chelsea intermediary sales controller Richard May says: “Over the last two years, we have been striving to create a really personal approach to working with intermediaries that has certainly resulted in very positive feedback and record business levels during 2002. I am sure that the site will save significant amounts of time to give intermediaries a very early indication of our ability to lend.”

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