YBS Commercial Mortgages has introduced a 24-hour Decision-in-Principle (DIP) after the initial investigation, for cases where all relevant information is provided in advance.
This follows recent moves by the commercial lender to provide offer letters within 30 days of the initial application, to secure the terms and interest rate for the loan, subject to valuation.
For particularly complex matters that require additional preparatory work, a new timetable will be agreed with the brokers on an individual basis in the principle decision phase.
These changes are intended to provide certainty and clarity to brokers and customers.
YBS Commercial Mortgages managing director Angela Norman said: “These improvements will ensure that brokers and clients get the engagement, clarity and confidence they really need during their application journey with us.”
“We have implemented a number of customer-focused changes this year and are absolutely committed to prioritizing process-driven improvements like this, to ensure the best possible outcomes for both agents and customers, and to deliver improvements we know our agents need from us.”