Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.


80% of brokers say that being able to send information to lenders using their smartphones would improve the mortgage or loan process. At a time when lenders are criticised almost daily for poor service standards this provides potentially crucial information for improving the mortgage application process.

A survey of 251 brokers and IFAs was carried out by mortgage best practice site TCFinfo.co.uk in conjunction with Mortgage Brain and iState Systems the leading creator of smartphone applications for financial services businesses.

80% OF BROKERS SAY LENDERS COULD IMPROVE SERVICE PROVISION BY INTRODUCING SMARTPHONE TECHNOLOGY 1Of the respondents, 80% of brokers said that mortgage processing would improve if they were allowed to photograph documents such as P60s, bank statements or wage slips and send them directly into the customer’s case file on the lenders system via smartphone technology. This technology is already readily available to lenders but most brokers (51%) said that the technology was not available to them with any of the lenders they used, while 39% of respondents said that fewer than 25% of the lenders they used would let them submit documents using smartphone technology.

61% of respondents were 46 years old and over indicating that smart phone technology is not only used by younger brokers as and therefore would be widely used. This is backed up by the latest usage data which finds that 72% of people in the UK own a smartphone.

Chris Little, managing director of iState Systems says, “At the same time that many lenders are struggling with service standards and high volumes it makes perfect sense to utilise available technology to reduce the pressure on staff and improve the experience for both brokers and customers.

“This smartphone technology already exists and has been tried and tested by a number of lenders. In fact some lenders already enable both brokers and borrowers to use their smartphones or tablet for things such as to: apply for a mortgage, track the progress of the mortgage, upload and send documents such as P60s or payslips and to receive secure notifications regarding outstanding information that they need to supply.

”This survey has identified that many brokers already see the use of smartphones as the way forward for the mortgage industry. The use of smartphones is now ubiquitous and how quickly lenders adopt this technology is likely to play a part in shaping the future of the mortgage market.”

Paul Clampin, director of underwriting at Paragon Mortgages, said: “In the last quarter 85 per cent of all applications to Paragon have been submitted to us online, which shows the way intermediaries are doing business is changing. Submitting applications via the Mortgage Trust and Paragon Mortgages websites is quick and easy, and I expect we will see more business coming through in this way.

80% OF BROKERS SAY LENDERS COULD IMPROVE SERVICE PROVISION BY INTRODUCING SMARTPHONE TECHNOLOGY 2“The feedback from intermediaries following the launch of our CaseTracker app has been great, and we hope that people are going to find the android version just as useful for managing their applications whilst on the move.

“Key features of the app include the ability to respond to queries or information requests against applications, and the provision of updates on the status of applications. The app’s primary function is to make the intermediary’s business life easier.”