Alliance & Leicester has added new loan calculation and tracking tools to its Web site in a bid to encourage more people to apply for mortgages online.
The UK bank has offered customers the ability to apply for a mortgage online for the past three years. A&L says the mortgage section is the most popular area of the site, currently attracting 50,000 unique visitors per month. In an attempt to further encourage the number of people who apply online, the bank has cut the number of screens with the aim of reducing the time it takes to complete an application to 20-30 minutes.
A new repayment calculator has been introduced, which gives customers the opportunity to compare different product repayment options from a single entry.
The site also allows customers to save quotes and return later to retrieve them securely. This information is then pre-populated for the customer into various stages throughout the online application.
Anisa Appleby, senior e-customer propositions manager, Alliance & Leicester, says: "We wanted to deliver an online solution that made the process as easy as possible for mortgage customers, future phases of this project will allow us to manage, track and fulfil end to end our online mortgage customers needs."