St. George is prediciting its turnaround times will be cut by 50% as a result of a software upgrade.
The non-major recently upgraded its technology with the aim of making it easier for brokers to apply and submit all documents digitally, with a designated 'checklist'.
It says a loan will be turned around in four days, rather than eight days.
“This removes all ambiguity and doubt, and streamlines the process of delivering the application to a loan assessor,” said Clive Kirkpatrick
, general manager of mortgage broking at St.George
The technology, from provider NextGen.Net, is satisfying a need for faster results, said its sales director Tony Carn.
“As the mortgage industry enters a new stage, it is processing efficiencies that provide a truly competitive edge in the market. Applicants, brokers and lenders all benefit from a streamlined process that delivers quicker turnaround times,” he said.
Bank recovers after turnaround blowout
Second tier to cut turnaround times in half