Efficient staff makes for speedy payouts
This case was submitted to us on the 17th of July from one of our brokers. It was processed by our dedicated call centre within 20 minutes of it being submitted.
The customer was initially passed to our Mortgage Department to look at a remortgage option, on the 18th of July; however, this was something the customer did not want to do, so we explained that a secured loan may be a better option and went through the process with the customer. They were happy to proceed with this as they were looking to get the funds as quickly as possible (ideally by August).
Within the same day, this was passed over to our Secured Loans department, and our Customer Relations Manager (CRM) completed a Fact Find and recommendation with the customer the same day. This meant that our CRM could send out the application documents and ESIS to the customer straight away. The CRM also advised that Independent Legal Advice (ILA) would be needed as part of the application.
The customers returned the required documentation the following day. There was an extra piece of documentation that was required for the application, so this was advised to the customer to send that in as soon as possible. In the meantime, we were able to send over all the documentation to the chosen lender. Within 24 hours, the customer had sent over the remaining documents that we required. Our CRM also advised that she would need to speak to the other party on the application, so they were fully aware of the loan and the terms involved. This happened later the same day, so our CRM was able to send out the ILA documentation to the other party.
On the 24th July, the Binding Offer was issued to the customer at around midday; the same evening, the customer called in to advise our CRM that they had returned the Binding Offer and ILA, so that we should receive it the following day.
The next afternoon (25th July) the case paid out with the selected lender. So, our CRM was working on this case for a total of five working days and paid out within six. This resulted in happy customers, a happy broker and a happy CRM.