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Pinkexpress bids to speed up mortgages

Mortgage packager Pink Home Loans is setting up a fast-track mortgage

application service in response to broker frustration with admin delays.

The Pinkexpress service is being launched with The Mortgage Business and

First Active Financial this month.

It aims to streamline and accelerate administration of applications so an

offer can be made in 24 hours and pay procuration fees within five working

days of completion.

Currently, TMB and First Active are the only lenders whose products can be

fast-tacked but PHL is in discussions with other lenders.

Pinkexpress allows applications from TMB or First Active to be rushed

through because of an agreement with the lenders not to wait for employer

references and bank statements before making an offer.

Pink Home Loans sales and marketing director David Copland says: “We have

cut back on the amount of information that needs to be supplied in order to

proceed to mortgage offer. We are hoping to add more lenders on to the

fast-track facility in the near future.”

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