Barclays has launched a new residential application system for intermediaries, with early adopters completing cases in just 15 minutes, on average.
The new system is simpler and faster than the previous platform. Benefits for brokers include a more intuitive, streamlined application journey, meaning no rekeying, less friction and a reduced admin requirement. Application times have been reduced by up to two thirds, speeding up the time to offer process.
The lender has focused improvements across three key stages of the application process:
• The affordability calculator form has been redesigned with clearer, more streamlined questions and a modern, easy-to-use interface.
• Agreement in Principle (AIP) process has been created specifically for brokers and now features downloadable AIP certificates.
• Application journey has been rebuilt to be faster and simpler, with fewer questions and improved document uploads, featuring drag-and-drop functionality and an expanded 15MB file size limit.
Intermediaries will also benefit from real-time updates, alerts, and visibility over each stage, whether working solo or as part of a team.
Roland McCormack, head of intermediaries at Barclays, said: “We have listened, we have heard, and we have acted. Our new application system has been shaped by extensive broker feedback and is designed to specifically address their needs, bringing wholesale improvements in key areas.
“The launch of this system is an important milestone in our broader transformation journey, having recently undergone an organisational restructure to place greater focus on supporting our intermediary partners, and a demonstration of our long-term commitment to this vital group.”
