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- Industry Insight
Through both internal and external research, TietoEnator has developed an insight into today's mortgage market. From this, some interesting and unexpected trends can be seen, giving us a unique look at the changes we can expect in the near future.
Mortgage Industry Insight
In May 2007, TietoEnator carried out in-depth interviews with directors and senior executives at the 2007 Building Societies Annual Conference. Issues discussed ranged from the popularity of channels to the time an application takes to be processed.
ING Direct Research
Reported on the BBC News website, ING have discovered that the average time a buyer will spend looking at a property before deciding to buy is only 17 minutes. Why this is the case highlights the relevance of mortgage time-to-offer.
Checkmyfile 2007 Mortgage Survey
Independent research from Checkmyfile shows time-to-offer is valued far more than might at first be expected. This, and other information, shows that the reasons people choose a lender are not as simple as getting the best rate.
Mortgage Finance Gazette articles
The 30 minute mortgage offer – believers form an orderly queue
"Don't underestimate the power of customer demand" is the message from this article in the September edition of the Mortgage Finance Gazette. When one lender reduces their time to offer to 30 minutes or less, how long will it be before this is expected from all lenders?
The times they are a-changin'
Bob Dylan may not have envisaged this applying to the UK mortgage market when he wrote his 1964 song, but it is fair to say that the mortgage industry in the UK is undergoing rapid change.
Dare to innovate
The mortgage market is struggling with a crisis of identity at the moment. Depending upon which paper you look at, markets are either booming or about to collapse. Innovation, it appears, is the key to being successful.
How realistic is the 30 minute mortgage offer?
The 30 minute mortgage offer may appear a long way off now, but customer demand is forcing banks to change and it may not be long before 30 minutes is the new norm.
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