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Widows Bank sets up a loan centre for brokers

Scottish Widows Bank has opened a new mortgage processing centre

specifically tailored to IFAs.

Based in its Edinburgh headquarters, the centre, which has been developed

by an in-house team, will process complete transactions from the initial

mortgage enquiry to the final “letter of offer”.

The bank, which has been in the mortgage market for three years, aims to

process applications to the offer stage within seven to 10 working days.

Widows senior business development manager Murdo McHardy says the centre

is further evidence of its commitment to the IFA market.

He says: “It is really an addition to what we are doing already. The

centre has been set up to assist IFAs who bring in 80 per cent of our

mortgage business.

“Our proactive approach to following up applications will mean that many

will be processed within ten days. We are trying to streamline the process

and make sure that IFAs can track down individual applications.”

This service will be available to IFAs via the internet by November this

year. It will allow the IFA to check specific details on applications. The

centre employs 50 staff.

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