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Firm aims to put Spring in step of loan applications

New firm Spring Technologies says its online suite of products for mortgage brokers will speed up the loan application process by at least two hours.

Spring is to roll out a range of online products in November designed to reduce the admin burden at the start of the buying process. These will include money laundering and credit checks, valuations and Land Registry checking tools.

Executive director Nick Berry says providing brokers with all the necessary information at the start of the mortgage application should save them two hours or more. He says the total cost of the service will be about 25.

Berry says: “Giving advisers all this information up front provides them with everything they usually get part-way through. Land Registry and money-laundering checks can often set the application right back, whereas having it all up front it is likely to take much less time.”

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