馃攳
Tesco Bank鈥檚 first year serving Britain鈥檚 mortgage intermediaries - YouTube
Channel: Tesco Bank
[0]
I'm delighted to be joined by Julian
[17]
hartley mortgage director for Pasco
[19]
banks are you pleased with your first
[22]
year in the broker market Julian I think
[24]
it's fair to say we're very pleased if
[26]
we go back probably over two years when
[28]
we started out on building our broker
[31]
channel we did extensive research into
[33]
what was important for brokers in the
[37]
mortgage business and we went out of our
[40]
way to build systems and service that
[43]
would provide a best-in-class solution
[47]
for our intermediary channel and what we
[50]
found is that we launched on time and
[52]
the feedback we've had is that nearly
[55]
eighty five percent of brokers are very
[58]
happy with the service they're getting
[59]
from us the results were getting
[61]
commercially what we wanted to be and so
[64]
we've been rolling out over the past
[65]
year and we're very delighted with the
[68]
first year we've had so it sounds like
[69]
you've met your initial expectations
[71]
yeah we have very pleased with the
[74]
results we're getting I think most
[75]
importantly were judged by what the
[77]
brokers tell us and as I say nearly
[80]
eighty five percent are giving us very
[81]
high levels of satisfaction and in fact
[84]
around half are telling us that they
[87]
find that our systems are better than
[89]
those of other providers have you made
[91]
any changes to your proposition we have
[94]
as I mentioned we continually listen to
[96]
feedback one of the key things that
[98]
we've done is introduced case ownership
[100]
so this gives a broker a specific point
[103]
of contact and someone you can take
[105]
ownership of getting their case through
[107]
and what we find is this does help to
[109]
speed up the processing of applications
[112]
the second thing that we've done which
[114]
was always our intention is to introduce
[116]
95% LTV into the broker channel we're
[121]
pleased about doing this because it
[122]
enables us to serve more tesco customers
[124]
and to help first-time buyers to get
[127]
onto the property ladder what are the
[129]
main strengths of your broke off or do
[131]
you think yeah well if we go back to
[134]
the point I was making earlier about the
[135]
research we did not only into what was
[137]
considered to be the best practice but
[138]
into what broke has told us was
[141]
important so number of the things that
[142]
we built on the back of that were first
[145]
of all that our solution is optimized
[148]
for any device so really as your phone
[150]
your tablet or your desktop the system
[154]
works so you can be either at home in
[156]
your office or with a customer the
[160]
second thing that we were told obviously
[161]
is anything that helps the application
[163]
to go through quickly so one of the
[165]
things that's important to brokers is to
[167]
know whether or not we're going to be
[169]
willing to lend so first of all the
[171]
ability to understand our lending
[173]
criteria we've built a very good search
[176]
engine so you can find out quickly what
[178]
our criteria are and secondly in terms
[181]
of calculators we've got a slightly more
[183]
detailed calculator but what that does
[185]
is it means it gives a good accurate
[187]
prediction as to whether or not we're
[188]
going to be willing to lend how
[191]
important is it you think the cases are
[193]
packaged correctly first time by the
[196]
rotas that's one of the things that's
[197]
really critical so if a case is packaged
[199]
correctly and the brokers used the
[201]
calculator and the lending criteria to
[203]
determine whether or not the case is
[205]
going to fit us then it will sail
[208]
through very quickly what are your
[210]
expectations for the coming year well I
[212]
think more the same is the key thing
[214]
that I would say so we have been rolling
[216]
out and will continue to roll out the
[218]
brokers from which we are distributing
[221]
that will help us to serve more testico
[224]
customers we want to be as competitive
[226]
as we can and so I'm pretty optimistic
[229]
about the year ahead the last few months
[231]
we've seen a lot of lenders change
[232]
retention strategies looking to involve
[235]
brokers more in the process is that
[237]
something tesco bank is looking at as
[239]
well yes that's a hot topic force and
[241]
the industry at this point in time
[242]
obviously we've only been in a broken
[245]
market for a year so we've got a good
[247]
year yet before we start to see cases
[249]
mature but we're looking at both how we
[252]
would involve brokers in the retention
[254]
process but certainly I think with
[257]
regards to a proc fee that a broker has
[260]
to go through the advise process and
[262]
should get an appropriate box for you
[264]
for the work that they have to do
[266]
can you tell me a little bit about the
[268]
process that tesco bank will use in
[270]
deciding that proxy so our first cases
[273]
don't mature until summer next year
[275]
which gives us a bit of time to
[277]
determine what the proc fee will be and
[278]
obviously we'll announce it near the
[280]
time thank you very much for joining me
[283]
variances
Most Recent Videos:
You can go back to the homepage right here: Homepage