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Almost 2 million home buyers suffer delays on mortgage offers according to
research from GMAC-RFC.
These delays cause 1.4 million people unnecessary stress and 255,000 people
reveal they have lost money in the process, the study claims.
GMAC-RFC has recently enhanced its on-line mortgage system so that it can
provide instant mortgage offers, meaning reassurance can be delivered in minutes
rather than weeks or even months.
Since going live, offers are being issued within 20 minutes.
GMAC-RFC’s research shows clear consumer demand for a quicker and more efficient
way to get a mortgage offer.
Over two thirds of people in the UK said they would have liked to have received
a mortgage (or re-mortgage offer) on the same day they applied for but until now
this was simply impossible.
Jeff Knight, Director of Marketing at GMAC-RFC, explained: “Buying a house is
one of the most exciting things you can do, however this excitement has often
been offset by a huge amount of unnecessary stress and uncertainty involved in
the process, whilst the mortgage offer has been waited for, which can take up to
a month.
"This new technology will remove the stress and extra cost that delays can bring
because it means consumers can, in many instances, receive their instant
mortgage offer without waiting for weeks or even months to be approved by a
lender.
"This removes the stress and hassle, and frees up time for everyone involved in
this process.”
Source:
Getting Paid
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