UK high street bank Lloyds TSB is to launch a new mobile phone text service designed to keep customers informed of the progress of mortgage applications.
Customers applying for a new mortgage through a Lloyds TSB branch or the telephony channel will receive text alerts at key milestones:
'Welcome to Lloyds TSB - application received'
'Application authorised'
'Offer letter issued'
'Delighted to confirm your mortgage application has completed'.
The final message includes a customer services telephone number for future use.
Mike Mitchell, mortgage and customer services director at Lloyds TSB says: "Buying a house can be very stressful, particularly keeping track of everything that is going on. Knowing that you will be updated at all key stages of your mortgage application process - no matter where you are - will give you piece of mind that things are going smoothly."
Lloyds TSB has been offering customers a weekly text-based current account mini statement since December 2004. The UK bank also ofers a text messaging facility for current account customers to order a new cheque book or paying-in book via their mobile phone.