Mobile services from lenders increase significantly 

 

A recent mortgage survey by IRESS, which analyses the mortgage market and application processing, has found a considerable increase in mobile service provisions by lenders.

It found most lenders (80%) now provide affordability checks, and 66% decision in principle, via mobile. Over half (53%) offer full mortgage applications and case tracking via mobile.

In total the survey quizzed lenders about mobile services in seven areas of the mortgage process. Responses showed in each of the areas, from researching products to case tracking, there has been significant increases in provision ranging from between nine and 42 percentage points compared to 2016. 

 

Henry Woodcock - Principal Mortgage Consultant

"To have a mobile proposition is now seen as something of a given. And our survey highlights the significant investment in the mobile services lenders are offering to the end consumer. With research, quotation, affordability and case tracking tools there are now a range of services irrespective of what channel they end up applying though. This could also be the reason lenders told us social media is an important tool for engagement with both intermediaries and consumers, with a significant increase in active Twitter and LinkedIn engagements compared to 2016. Two fifths (39%) of lenders believe that engagement via social media is ‘very important’ or ‘vital’. It seems good business sense to me to reach out to your customers who are already engaged with mobile services with social media. They are used to instant messaging, personalised services and can experience a stress free and transparent dialogue that will enhance the lenders' brand."

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