Brokers to get a direct line to Woolwich remortgage underwriters

Brokers are being given a direct line to speak to Woolwich remortgage underwriters after submitting applications.

The lender is rolling out this mortgage service nationally after a successful pilot in Scotland which they claim improved the speed and quality of submissions and processing. After each case is submitted, brokers will receive a phone call direct from an underwriter who has reviewed the case. A decision will be made there and then either accepting or declining the Woolwich remortgage application. In some cases the underwriter will offer a lower advance to facilitate lender acceptance. Any additional information required will be requested at this time and brokers will be given a direct line number if they have further questions.

David Finlay, intermediary channel director at Woolwich , said: “Access to underwriters is something brokers are always asking for and very few lenders have come up trumps by giving it to them. This will be a service enhancement not just for the broker but also for the end customer who will see quicker and slicker mortgage processing. There is a real commitment to brokers at Woolwich and these improvements show we do see intermediaries as a very important channel”.

Last year 54 per cent of Woolwich mortgage business was done through intermediaries and the lender is planning to do the same in 2012. They are currently working one or two to new products to give Woolwich remortgage deals an edge in the market.