BM Solutions online additional borrowing service a success

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BM Solutions online additional borrowing service a success

Following the success of its online application process, BM Solutions last week announced its online additional borrowing service.

Since the launch of its online borrowing service, BM Solutions has found that 80 per cent of its applications are now received via the internet.

As a result the lender has said that the tool is "just the service brokers require" and that it would soon become standard in the industry, reports Mortgage Introducer.

The BM Solutions online additional borrowing service is the first of its kind in the industry.

Martin Reynolds of BM Solutions said he looks forward to seeing the service offered by other lenders: "Of course for brokers to really benefit they need this level of service from more than one lender and we therefore encourage others in the market to make this functionality available."

And though customers can now receive a decision on their mortgage within 48 hours, it is hoped that in the future customers will be able to receive a decision even quicker as a result of 'online decisioning'.