Written by: John Fitzsimons
More than 100,000 borrowers have made use of NatWest’s paperless mortgage application process, the lender has revealed.
The service, which allows users to securely share and verify documents online, was launched back in 2017 and continues to gain traction amongst customers.
NatWest is also working with fintech business Instant Property Network to see how blockchain technology can be used to speed up the conveyancing process. The lender hopes that this could improve transparency and save both buyers and vendors time and money.
In addition, NatWest was the first lender to complete a fully paperless mortgage process as part of HM Land Registry’s digital mortgage service.
Ian McLaughlin, managing director of home buying and ownership at NatWest, said that doing things digitally is a way of life for many customers, so it was important for the mortgage industry to keep innovating in order to meet their expectations.
“Adding HM Land Registry’s digital mortgage service to our innovative digitised mortgage application process allows us to provide our customers a completely paperless mortgage from start to finish,” he added.