NatWest Bank has launched the first paperless mortgage.
You can now apply for a mortgage with the bank completely digitally with the ability to upload personal documents to NatWest via a secure portal.
This is good news for customers who want to move quickly.
The new proposition means no need for signed paperwork or identification to be sent in the post. This is a UK first – customers will be able to apply for a mortgage without paper copies of documents being produced.
“This innovation will make the process of buying a new home much simpler, easier and faster for our customers, transforming the way homes are purchased in the UK.”
What does it mean:
- Mortgages applied for over the phone will be offered paper-free, which could save over 4.4 million sheets of paper a year
- With this new proposition, mortgage offers can be made within 24 hours and an average offer is 10 days faster than before
- In advance of a call with a mortgage adviser, customers will be able to upload the documents required for an application, such as a driving license, passport or payslips through a secure online portal.
- A telephone call with a mortgage adviser will then be arranged at a convenient time for the customer, to guide them through the process. It will be possible for the adviser to highlight key parts of text in documents and help the customer with any questions.
- The customer will be able to sign the final documents electronically using a mouse or tablet.
