First-time Buyers
Leeds Building Society leads the way on valuations
A new method for instructing surveyors to assess a property can cut up to five days off the mortgage application process
Leeds Building Society has changed how it instructs surveyors for valuations to help to speed up the mortgage application process.
And it has claimed it can shave up to five days off the process.
The Society launched a pilot scheme over the summer to instruct a valuer on the same day it received a mortgage application, instead of waiting until it had a fuller picture of the case from the mortgage broker.
“We received a really positive response to the pilot so we’re delighted it was a success and we’re able to make this change permanent,” said Martin Richardson, Leeds Building Society’s director of business development.
“In our tests instructing the surveyor sooner during the application process saved up to five days overall so intermediaries and their customers can receive confirmation of their mortgage offer more quickly.”
While the change has now been made permanent your mortgage broker can still choose to have your case fully assessed before the valuation if you prefer.
