With the core aim being to make 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. As a result, customers save up to three days when compared to a traditional postal method. This has proved a popular measure with customers using the system, especially those who require finance at short notice.
Since launch, the Shawbrook teams have worked behind the scenes, upgrading the systems logic so that E-Signature functions to the highest specification possible. This is reflected by the raw data, with Shawbrook reporting that in January 2017 the average cycle time from Application to Binding Mortgage Offer was just under four days for those customers using E-Signature, as opposed to seven days when E-Signature was not utilised.
Brokers have been impressed by the time this saves for their customers. This includes Andy Pelley from The Loan Partnership who commented:
“Since we started using E-Signature last year, 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. I’d like to say well done to the Residential Mortgages team – this is exactly the kind of smart, customer-focused decision which we like to see at The Loan Partnership.”
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 brokers and customers have benefited from using the system. Our teams are award-winning and by combining our people with progressive systems 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.”