Nationwide has confirmed it is taking on more than 100 extra staff to speed up the processing of mortgage application.
Brokers complained after the building society’s average processing time rose to 17 days in July. The society’s service level agreement stated a maximum processing time of 14 days, but it was only processing 50 per cent of applications within this timeframe.
Nationwide said this was due to heightened demand for a number of its fixed-rate products.
Nationwide has since updated its application-to-offer service level agreement to a maximum of 13 working days and says it currently processes documents it receives within two days.
A Nationwide spokeswoman says: “We did have some issues back in the summer but have been putting significant measures in place to get us back on track.”
Trinity Financial head of communications, marketing and products Aaron Strutt says: “It was only a matter of weeks ago that there were fairly serious problems with Nationwide’s backlogs. The additional staff will be welcomed by brokers.”