You can now apply for a mortgage via videolink

22nd March 2016


Halifax and Lloyds Bank have launched a new video link service allowing their customers to speak to a mortgage adviser from their own home.

The video service, which was piloted for Lloyds customers throughout 2015, provides an alternative to branch and telephone appointments.

Customers using the videolink appointments will only be able to take out mortgage products offered by the bank itself, as it does not provide an independent advice service.

A third (33%) of appointments from Lloyds Bank customers that would have been completed over the phone are now completed via video and the service launched to Halifax customers earlier this month.

Appointments can be made between 8am and 8pm during the week, and between 9am and 2pm on Saturdays with Lloyds and 9am and 4pm with Halifax.

The banking group says that in customer feedback following the pilot, c95% of customers rated their experience as good or excellent.

Furthermore, 16 Lloyds Bank branches are piloting the use of the video service for customers coming into the branch, aimed at increasing mortgage appointment availability at peak times.

David Oldfield, group director, retail and consumer finance, says: “Our customers’ needs are continuing to change. They want greater choice, convenience and value whether that’s in branch or online – and they want these things in a time and place that suits them.

“Buying a house can be a stressful time for many people, and so for those who are unable or choose not to visit a branch but who still prefer a face-to-face conversation, this video service is a fantastic channel for them to use.

“It enables us to connect more customers to our mortgage experts in the way that is most convenient for them.”

Recognising the importance of embedding digital and innovation capability into banking, the Group has already invested £750 million in digital innovations over the last three years, and will continue to invest a further £1bn in its digital capability over the next three years.

Andrew Montlake, director of Coreco, the mortgage broker, says: “I am all for innovation and this is great step in right direction, but it is important for customers to get proper advice which takes into account more than just one lenders products.

“Only a professional broker can provide this and why spend an hour or two talking about one lender when you can spend the same time with a broker that assesses the suitability of over 90 different lenders products?”

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