Helping us to make faster lending decisions
Following a very successful 2019, we have conducted a review of our loan application process and identified a few areas which delayed us in conveying lending decisions to our clients last year.
It is anticipated that our processes will be increasingly automated in the future which will reduce decision times so it is more important than ever that the information submitted in support of a loan application is accurate. Our review highlighted that delays occurred when we were provided with:
– Incorrect dates of birth for parties to a loan request
– Incorrect address histories for parties to a loan request
– Incomplete applications (parties to a loan are omitted)
Don’t forget that the personal details of all directors and / or major shareholders must be included within a Newable loan application and it is important that the information reflects that at Companies House which will always be checked.
Thanks to all of our introducers for their attention to the above points which will help us to deliver finance more quickly to your clients.