In a bid to help brokers boost their customer proposition, National Mortgage Company has said it will offer five day formal approval guarantee on its suite of products.
The company’s head of mortgage origination Jeff Chapman told Mortgage Business that the guarantee was a unique offering to the market place.
“In today’s economic environment, brokers are struggling to meet the expectations of their clients. Many expect loans to be turned around within 48 hours, however, loans can often get caught in the major bank’s back log and take weeks to turn around,” Mr Chapman said.
“We want to give our brokers the best chance to build a loyal client base and believe by giving them a formal approval guarantee, it will help them to attract and retain clients.”
According to Mr Chapman, the company’s delegated lending authorities of up to $2 million gives the non-bank the ability to control their own service delivery times.
“This, combined with the ability to have loan documents produced within 48 hours gives National Mortgage Company and our brokers a real edge in the market,” he said.
“Our belief is that service delivery is a currency in the market that never devalues. Our job is to provide quality products backed by market leading service, and then get out of the way and let the brokers do what they do best.”
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