Mortgage transformation programme gets 29% boost

Furness Building Society say its mortgage transformation programme is helping it achieve record app-to-offer rates, with a 29% uplift in the number of applications progressing to a mortgage.

More flexible lending criteria and improved broker service levels are helping boost engagement, it says.

In the third phase of its mortgage transformation, Furness has launched a new mortgage calculator, which it says will provide brokers with greater flexibility and confidence when assessing client borrowing potential.

The company has a continued commitment to manual underwriting, differentiating itself from lenders who rely on automated processes which can mean they are unable to lend to some prospective borrowers.

Assessing on individual merits

Jon Cartlidge, head of member and broker strategy at Furness Building Society, said: “Many brokers are looking for lenders willing to assess cases on their individual merits – rather than being fed through an automated system that is unable to evaluate the bigger picture. We believe our blend of technology, common sense and human expertise is delivering better outcomes for intermediaries and their clients. 

“Over the past 18 months we’ve invested a great deal of time and resources into enhancing our lending criteria, building in greater flexibility and building a new mortgage calculator for brokers. Alongside our manual underwriting process, this is enabling us to find even more ways to responsibly say yes.”