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E-signatures ‘cutting application time by three days’

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07/03/2017
Digital signature capability is cutting the time it takes to apply for second charge mortgages, according to Shawbrook Bank.
E-signatures ‘cutting application time by three days’

The specialist lender introduced E-Signature in August 2016 with the aim of making the application process for a second charge mortgage as efficient as possible.

E-Signature allows customers to read and sign their documentation in real-time. This has reduced the average cycle time from application to binding agreement from seven days – when postal methods are used – to just under four.

Shawbrook said this has proved popular with customers using the system, especially those who require finance at short notice.

Broker Andy Pelley from The Loan Partnership said: “We have been impressed by the consistent benefits this system provides. It’s quick, efficient and intuitive to use. This has ensured that no matter their age or background, each customer has been able to benefit from this service.”

Maeve Ward, managing director of Shawbrook Residential Mortgages, added: “E-Signature has been live for over six months now and, in that time, it’s been a pleasure to see just how many customers have benefited from using the system.

“By combining our people with progressive system upgrades such as this, we have been able to provide a wide range of positive customer outcomes. Improving the customer journey is at the forefront of everything we do and we remain committed to this moving forward.”

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