GMAC claims its point of sale system is proving popular with packagers.
It says the technology means packagers can save time and resources by providing offers for brokers in a few minutes.
GMAC says about 60 per cent of applications will receive instant offers, and this will increase over time.
Packager Enterprise Groups Michael Clapper says: We are seriously impressed with it. Offers that used to take two weeks are now achieved in 20 minutes. On the first day of pilot we delivered nine offers and the brokers were totally blown away. I’m convinced this will revolutionise the mortgage process in the UK.”
Partner Division director Roger Brown says: This is ground breaking technology that will change the face of mortgage processing today and in the future. Our system enhancements have been extremely well received and we will continue to deploy our system over the coming weeks.