"We upped the ante in 2016 to provide brokers with a more efficient and consistent level of service."
Accord says the quicker lending decisions follow a series of changes it made to its application and underwriting process, including simplifying the way it processes mortgage applications.
In 2016 the lender provided a 28% year-on-year reduction in the amount of time it takes colleagues to process an application in principle and a 33% increase in the average acceptance rate on straight-through AIPs, with less cases being sent for referral.
In total, Accord saw a 23% increase in applications from 2015 to 2016, and in November alone there was a 101% year-on-year rise in the number of applications submitted.
David Robinson, Accord’s National Intermediary Sales Manager, said: “We upped the ante in 2016 to provide brokers with a more efficient and consistent level of service. The improvements are going down well with intermediaries, with direct contact with our underwriters being highlighted as a particular favourite amongst brokers. Many appreciate receiving a welcome call from the underwriter working on their case and it provides an opportunity to iron out any potential issues at the outset – making the application experience a lot smoother.
“We also undertook a number of other initiatives last year to help brokers grow their businesses. These include sending buyers a welcome hamper on behalf of brokers, launching an interactive toolkit which brokers can use during conversations with clients, plus expanding our field based BDM and telephony sales teams, to name just a few.
“Our underwriters had a busy year, the number of mortgage applications we received in 2016 rose significantly from 2015 which is perhaps an indication that brokers are happy with the improvements we’re making.
“But we’re not resting on our laurels, as part of our commitment to support brokers we’re exploring further ways we can work with intermediaries to best meet clients’ needs. My message to brokers is: watch this space.”
