The Society's customers can now start their application online and gain a mortgage approval in principal, before transferring and completing their mortgage in branch or over the phone if they prefer.
It aims to benefit borrowers house-hunting in a competitive market by giving them the assurance of having funding in place without committing them to a specific mortgage, loan amount or term length.
An approval in principal is a free ten-minute check which allows borrowers to find out whether the Yorkshire would lend to them and, if so, how much. The result is valid for 30 days and is subject to fuller income checks once it gets to the full application stage.
Nick Gander, E-commerce Manager for Yorkshire Building Society, said:
“We are committed to making life as easy as possible for customers. We understand many of our customers have busy lives and want to apply for a mortgage in the most convenient way for them.
“By giving borrowers the ability to begin their application online, then transfer to a branch or complete things over the telephone if they would like more guidance, they can do things when and how it suits them.
“We hope this move will help to take some of the stress out of buying a home by making the mortgage application process a smooth and straight-forward experience for our customers.”
