Nationwide launches soft credit footprint and improved case tracking tool for mortgage applications

18 September 2019

  • Decision In Principle no longer leaves hard footprint on customer credit score
  • Updates to broker system to provide greater range of information and reduce calls

Nationwide Building Society has introduced a soft credit footprint for all its prime mortgage applications.

Previously, when applying for a mortgage, applicants who submitted Decision In Principle (DIP) would have a footprint left on their credit file. Now brokers, as well as those who make applications directly to the Society, can submit cases without having an impact on the customer credit score, with the hard footprint only applied to a customer credit record at the submission of the application.

In addition, the case tracking system for brokers has been further improved, with new case update and overview pages to give intermediaries more information and greater detail – giving brokers case updates at the touch of a button

The ‘At a glance’ information available includes application details, DIP and offer details, such as expiry dates, valuation status and dates, conveyancer details and full product details including reservation date. If the broker needs to act, this will also be indicated. Next steps will also be shown, while the help text to signpost brokers on case requirements has also been improved.

Ian Andrew, Nationwide’s Intermediary Relationship Director, said: “We have an ongoing drive to improve support for brokers and their clients, with continuous feedback from intermediaries about their requirements and which key areas of the application journey could be improved in line with their needs. Having a DIP that does not leave an imprint on a credit file at an early stage improves the process both for intermediaries and customers and is something brokers have asked us for.”

“We have also improved the case tracking system and accompanying help text for intermediaries completing an application, with the aim of smoothing the journey for brokers, making case tracking more efficient and reducing unnecessary calls for application updates, further enhancing an already responsive and well-received system.”

“These changes follow on from the system improvements we made earlier this year, which included increasing the remortgage offer validity to 180 days.”

David Hollingworth, Associate Director – Communications L&C Mortgages, said: “Borrowers are increasingly aware of the potential impact that a hard footprint could have on their credit score, so the news that Nationwide is shifting to a soft DIP will be well received. The changes to the case management tracking tools underline the fact that Nationwide is listening to broker feedback in an effort to evolve and enhance its platform. Providing more information online should help limit the need for unnecessary calls, increasing the efficiency for everyone and ultimately giving customers a better overall experience.”

Lisa Martin, Development Director – The Mortgage Alliance, said: “It’s great that Nationwide can now give our clients decisions without leaving a hard footprint on their credit file. The enhancements to the case updates page will really help us to keep our clients informed throughout the application process, whilst it ensures that we, as brokers, are fully engaged every step of the way.”

About Nationwide

Nationwide is the world's largest building society as well as one of the largest savings providers and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million customers.

Customers can manage their finances in a branch, via the mobile app, on the telephone, internet and post. The Society has around 18,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

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