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Service


At your service


Service has to be a balance between people and technology


Mortgage brokers know only too well just what a difference it makes working with lenders who offer a reliable, high quality service. Good service not only separates the good from the bad, but it can also make a very tangible difference to a broker’s bottom-line profit. Good service leads to faster, more efficient processing of applications that cuts down the need for re-work and wasted time and effort. However, service is one of those nebulous concepts that’s easy to talk about in general terms, but is more difficult to define in detail. We all know when we’ve experienced good service; but can we specify exactly what separates good from bad service? It’s not as easy as it sounds. Part of the reason for this is because service comprises two key elements: one element is the capability of a company to deliver service excellence; the expertise and skills of its staff, well-defined policies and procedures and up-to-date technology. The second element is attitude; a business’s willingness and desire to satisfy the needs of its customers and exceed their expectations. Attitude has to come from the very top; if the board believes in service excellence then an ethos of putting customers first will permeate its way throughout an organisation. If the board believes in service excellence, the resources will also be made available to ensure a company is able to deliver consistently high standards. I’m sure mortgage brokers can immediately identify those lenders that are genuinely committed to delivering excellence and those who merely pay it lip-service. As I say, it’s not difficult to know when you’ve just received a high quality service. But how does a lender go about delivering an excellent


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service, especially in the buy-to-let market where applications can vary quite dramatically from an individual wanting to finance a single property to a professional landlord wanting to refinance a large portfolio of properties?


People power Staff are clearly a key ingredient and, contrary to the


desire of some lenders, it’s not possible to completely replace staff with machines and automated decision- making systems. And nowhere is this more true than in the intermediary market, where brokers want to be able to speak to knowledgeable staff. Committed and skilled people always have been and always will be a cornerstone of a lender’s service strategy. Brokers have every right to expect access to underwriters, so that they can discuss the complexities of specific cases. Technology is also a vital ingredient in the provision of service excellence, but it should never become a barrier to effective communications. At Aldermore, we’re firm believers that brokers should be able to pick-up a phone and speak to us and we encourage them to do so.


Technology So what role should technology play? Clearly, it can


automate processes, speed-up communications and give more brokers easier access to lenders products and services, but should it be allowed to take control of decision-making? The approach adopted by Aldermore’s residential mortgage lending team has been to use a bespoke rules-based system, which enables sensible underwriting rules and criteria to be used to


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