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New video service for mortgage applicants

A new video link has been introduced by Santander to connect borrowers to an advisor who is based in the UK.

The service means that customers will be able to make a mortgage application using a video link in one of the branches of Santander. The service has been launched in 63 branches of the bank, and designed with the requirements of customers in mind. However, Santander recognises that some people prefer to speak to an advisor face to face, so are still providing this option for customers in all branches.

The next step for the lender will be to make the video link available for people to use from their home, and this could be available later in the year. The managing director of Santander’s mortgages, Miguel Sard, says that mortgages are generally the largest financial commitment made by a person, and that customers often prefer to speak to a mortgage advisor who can explain the various options available, and make recommendations based on their requirements. He added that the mortgage video service would enhance their existing services.

The director of Mortgage Concepts Associates, Mike Richards, commented that the new technology is one step further than discussing mortgage requirements over the telephone. He said:

“At least you can see them face to face. My view is that a face to face element is still what people want, unless they know exactly what product they want before they get it- things often come out of the woodwork that were unexpected.”

CeMAP qualified mortgage advisors are normally happy to speak to customers either face to face or by telephone.

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