Whether you’re a mortgage adviser or a lender, the Lender Service Report is a handy tool that is updated weekly. It’s a central point that gives a snapshot of the state of lender service levels across the industry. A quick look tells you the sort of waiting times you can expect for different aspects such as case updates, general response times, initial assessment, and time to offer for both residential and buy-to-let.
For mortgage advisers, it means you quickly make recommendations and set clear expectations without spending time visiting each lender’s website.
For lenders, it’s an easy way to gauge how your service levels are performing against those of your competitors.