Tandem Bank’s Mortgage Division is launching its first comprehensive, broker-based first charge product portfolio for remortgages and unencumbered property.
Last week Tandem confirmed the appointment of Roger Morris as director of sales & distribution.
Now the Bank has committed to providing a number of features designed to make brokers’ lives easier.
These include ‘A Fair Notice’ period for all interest rate and product withdrawals and a ‘Fair View Credit Assessment’ which sees the Bank assess an applicant’s credit file based on 22 months rather than the industry average of 60 months.
Additionally, fixed rates are booked at the time of an accepted AIP and wherever possible Tandem will use AVM’s to improve decision speed.
It will also offer free lender-only legal through an in-house service while there is no interest on fees.
Post completion the lender will be offering product transfers and portable products.
It will also offer ‘fully online and live interaction’ where all DIPs and full applications can be submitted and tracked real-time using Tandem’s specialist mortgage portal.
Steve Beard (pictured), managing director of Tandem’s Mortgage Division, said: “Tandem is challenging the status quo having reimagined and reworked the application to offer process by introducing time-saving initiatives that are guaranteed to compress the time it takes to go from DIP to offer and completion.
“Richard Angell, our head of sales & national accounts, has worked tirelessly with the team over the past 12 months to rewrite the way remortgages are conducted to speed up the process and to provide real value for customers. Thanks to their hard work, Tandem Bank is able to offer brokers a revolutionary service.”
Angell added: “Tandem is setting its stall out to be the specialist lender for remortgages and next week, we will be launching our first comprehensive first charge remortgage product range featuring all of the above features through some of the best clubs, networks and large brokers in the UK.
“There will be more to follow soon. Industry figures we have reached out to have all confirmed that our process is going to revolutionise how customers and their advisers are treated and how quickly they can complete their mortgages.
“Watch this space. Things are about to get exciting!”
