The mortgage application process is let down most by the extent to which customers are kept informed of their application, research shows.
According to online mortgage company mform.co.uk, a total of 67% said they were satisfied with this part of the procedure, the lowest percentage out of 16 service measurements. The average ‘satisfaction score’ across the 16 mortgage service criteria selected – which included the speed with which funds are made available and the extent to which jargon was clearly explained - was 73.2%. A total of 4,275 UK borrowers were surveyed by research company YouGov and mform.co.uk says the results are being used to enable borrowers to measure lenders on service levels. The highest satisfaction scor...
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