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Yorkshire BS boosts online applications

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Yorkshire Building Society has upgraded its online systems to allow borrowers to start the mortgage application process online.

The mutual said the changes would make the application process easier and more flexible for customers.

It said customers can start the mortgage application online and gain a mortgage approval in principle in their own time.

Once this is complete the customer will visit a branch or call the building society to complete the deal.

Yorkshire said this would give borrowers the assurance of having mortgage funding in place, but not committing them to a specific mortgage, loan size or term length.

An approval in principal typically takes around 10 minutes and 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 further checks once the application progresses.

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.”

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