In future, brokers can submit identity documents electronically, instead of having to send a Confirmation of Identity and Affordability (CIA) form through the post.
The lender hoped the service would speed up mortgage application times and will make it easy for intermediaries to do business with them.
Ricky Okey, managing director of Abbey, said: “As well as being part of a drive to enhance the service we offer intermediaries, the change offers our clients the opportunity to take advantage of being an Financial Services Authority regulated intermediary. We are one of the few lenders to make this change following the revision of the Joint Money Laundering Steering Group (JMLSG) guidelines, and I’m sure intermediaries will see the benefit of this.”
The changes come after the JMLSG revised the rules governing identity checks to allow lenders to accept electronic submissions, with the aim of reducing the amount of documentation needed to complete a financial services transaction.
Mike Fitzgerald, sales director at Brentchase Financial Services, commented: “The removal of the need to send support documentation through the post is a fabulous enhancement, which will save brokers lots of time. I’ve been very impressed with Abbey recently and I would guess it isn’t far away from adding instant offers to its service proposition.
He added: “It seems some lenders, including Abbey, are going down this technology route and they are leaving a lot of lenders behind. BM Solutions has electronic signatures, but this move by Abbey puts it up there with the likes of GMAC-RFC and edeus on the technology front.”
