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Halifax prepares for instant offers

Halifax could become the first high-street lender to launch instant mortgage offers early next year.

It says it will bring offers to the intermediary’s point of sale using automated valuation models. Halifax will be the first high-street lender to use the technology which specialist lenders Edeus, GMAC and BM Solutions already use, although Alliance & Leicester has also signalled plans to introduce AVMs.

Halifax Intermediaries managing director Jack Saxton says that a full roll-out is planned in the first quarter next year but it may introduce the service in some branches earlier.

Alexander Hall chief operating officer Andy Pratt says: “Halifax has got more data than anyone else and it was always a case of when will they do instant offers, not if.”

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