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Mortgage site to go live after IFAs&#39 response

Alliance & Leicester is rolling out a mortgage application website after a trial period found 15 per cent of the bank&#39s intermediaries submitted cases through the new system.

The system, which can give a credit scored decision in 60 seconds and a one-hour response for referrals, was tested in June and proved successful enough for the bank to launch the website on a full-time basis.

A&L says intermediaries are using the website in bigger than expected numbers because it is less time-consuming than other systems. As it prepopulates information from an agreement in principle to a full mortgage application automatically, A&L says brokers are freed from having to re-key details.

It also has an offline feature to allow users to save the information on applications before submitting them online – thereby protecting brokers against losing case details should the internet connection fail.

Brokers can also track cases online and print out a letter for clients confirming the decision and the full mortgage application for the client to sign. Brokers can register for the system at

Managing director (retail banking) Richard Pym says: “Most lenders have used technology to simply speed up the front-end decision. A&L&#39s system has speeded up the whole mortgage application process, providing quicker decisions, faster processing, easy tracking and less paperwork. We think it is the best system in the marketplace.”


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