The borrower is self-employed individual, looking to remortgage their existing first charge residential property.
The borrower was looking to repay the existing first charge, which was with another lender, then additionally raise funds for home improvements and reduce the monthly payments in time to complete before their existing arrangement came to an end and they would have to revert to an SVR.
Four days! This is up to 14 days times faster than the estimated industry average completion times for remortgage applications. Brought about by multiple factors including speed and service, brought about a positive outcome for the borrower.
The fast-track service offered by West One is provided by on site conveyancers using title insurance to speed up the process. Meaning, the legal work starts upon receipt of the application, which is a significant departure from the traditional conveyancing process where legal work usually only starts once the offer has been issued.
The relationship that existed with the broker and West One meant that we already had a great working understanding. West One were presented with a very well packaged case, which ensure when the application was received West One had all relevant info so that the process could begin immediately.
The dedicated West One team, understood the needs of the borrowers and ensuring the process was completed as efficiently and professionally as possible.
The dedicated West One team, understood the needs of the borrowers and ensuring the process was completed as efficiently and professionally. All information that was received was assessed within 24 hours.
Paul Leverve, of Happy Brokers (broker who submitted the case)
"To enable a completion within four days of receiving the application was a fantastic customer outcome for my client, especially considering that the borrower in question was a self-employed customer with a shorter trading history who needed to remortgage away from a specialist lender. As an added advantage, the borrower managed to make significant savings by switching to West One."