Bank claims average case completion time drops to 15 minutes
Barclays has introduced a new residential mortgage application system for intermediaries, aiming to reduce processing times and simplify the experience for brokers.
Early users have reported completing cases in an average of 15 minutes, according to the bank.
The system, developed in response to broker feedback, replaces Barclays’ previous platform and is intended to minimise administrative tasks. The lender said the new process eliminates the need for re-entering information, reduces friction, and cuts down on paperwork, resulting in application times up to two-thirds shorter than before.
“We have listened, we have heard, and we have acted,” said Roland McCormack, head of intermediaries at Barclays. “Our new application system has been shaped by extensive broker feedback and is designed to specifically address their needs, bringing wholesale improvements in key areas.
“The launch of this system is an important milestone in our broader transformation journey, having recently undergone an organisational restructure to place greater focus on supporting our intermediary partners, and a demonstration of our long-term commitment to this vital group.”
Barclays said it has focused enhancements on three main stages of the process. The affordability calculator has been updated with clearer questions and a modern interface. The agreement in principle (AIP) stage now includes downloadable certificates tailored for brokers. The full application journey has been rebuilt to be faster, with fewer questions and improved document upload features, including drag-and-drop functionality and a larger file size limit of 15MB.
The system, the major lender added, also provides intermediaries with real-time updates and alerts, offering visibility over each stage of the process, whether working individually or as part of a team.
Brokers who have tested the system shared their experiences, with one sharing that it was “probably the easiest AIP I’ve ever done” and another commenting that the system is “very user-friendly and [provides] much quicker results with less information needed.”
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