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NOT FOR PUBLICATION OR BROADCAST BEFORE 0001HRS MONDAY 15TH MAY 2000 HALIFAX’S ONLINE SERVICE FOR MORTGAGE INTERMEDIARIES AND PERSONAL CUSTOMERS GOES LIVE Halifax has become the first major lender to launch an Online Mortgage Promise service for both intermediaries and personal customers. The service is available from 6am to midnight - seven days a week at:
www.halifax.co.uk for personal customers www.halifax-intermediaries.co.uk for intermediaries
The launch of Online Mortgage Promise is part of a series of new products and services which will be available through the rapidly expanding Halifax Online. These include not only savings, but insurance as well as online products for corporate clients and enhancements to existing online banking.
Halifax Online Mortgage Promise provides intermediaries and personal customers with an Agreement in Principle within 60 seconds, with personal information taking less than 10 minutes to input. more…
PRESS RELEASE
For further information contact Alison Roberts - Head of Group Press Office, Halifax Group plc, Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Registered in England No. 2367076. Tel: 01422 333333. Fax: 01422 333007. (Out of Hours Tel: 01706 839544/01422 201306.) Internet Website: http://www.halifaxplc.com Email: pressoffice@halifax.co.uk ISDN facilities are available for broadcast media interviews.
Any mortgage broker currently on Halifax‟s panel with Internet access will be able to use Halifax Online Mortgage Promise, giving around 10,000 intermediaries the option of submitting a mortgage application online.
In 1999, Halifax new mortgage sales were a record £17.8bn, with half this amount coming from mortgage intermediaries and half from personal customers. Halifax
realises the equal importance of both channels and this is why the service is being made available to personal customers and intermediaries simultaneously.
Halifax is also launching an online tracking system for mortgage applicants this summer. Halifax Mortgage Enquirer will allow mortgage customers and
intermediaries to track the progress of the mortgage application online, 24 hours a day, seven days a week.
Access to the service will be given to all mortgage applicants by use of a unique password. Intermediaries will also be given password access whereby they can view the status of individual cases plus an overview of all applications currently being processed. Commenting on Online Mortgage Promise and Mortgage Enquirer, Phil Jenks, Head of Mortgages, said: “This is further evidence that Halifax has a serious e-commerce strategy and that we can bring products and services to market speedily. Whether our customers want to arrange a mortgage, apply for a unique savings service, search for a property online or carry out their day to day banking - Halifax has the capability to meet these needs - all at the click of a mouse.” Ends.
PRESS RELEASE
For further information contact Alison Roberts - Head of Group Press Office, Halifax Group plc, Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Registered in England No. 2367076. Tel: 01422 333333. Fax: 01422 333007. (Out of Hours Tel: 01706 839544/01422 201306.) Internet Website: http://www.halifaxplc.com Email: pressoffice@halifax.co.uk ISDN Facilities are available for broadcast media interviews.
EDITORS’ NOTES: Research by Mintel (Telephone & Postal Distribution 1999) suggests that in the next five years half the population accept that the nature of financial services will have changed forever from the traditional branch based provision. For them new delivery channels will become the primary points of contact. While some 10% of respondents expect to be using the Internet/online banking for their day to day dealings in the next five years, a higher proportion (14%) are expecting to use these methods to buy or arrange new financial products or services. Among the 8% of respondents in the study who were considering taking out a mortgage in the next 18 months, around 3 in 10 expect to buy or arrange financial products by way of the Internet. In their assessment of the overall market for online personal finance until 2003, Fletcher Research expect some 1.8 million will have used the web to help buy a mortgage or loan. (Source: E-Commerce and the Internet: The Future for Mortgage Distribution? - a report commissioned by the CML). Halifax Online Mortgage Promise is supported by dedicated staff within Halifax Mortgages Direct (for personal customers) and dedicated „Mortgage Desks‟ within Halifax Business Centres (for intermediaries).
Halifax Mortgage Enquirer will allow customers and intermediaries to track the key stages of the mortgage application including: Receipt of the valuation report Income confirmation received Lender/landlord verification received Whether the mortgage has been offered
PRESS RELEASE
For further information contact Alison Roberts - Head of Group Press Office, Halifax Group plc, Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Registered in England No. 2367076. Tel: 01422 333333. Fax: 01422 333007. (Out of Hours Tel: 01706 839544/01422 201306.) Internet Website: http://www.halifaxplc.com Email: pressoffice@halifax.co.uk ISDN Facilities are available for broadcast media interviews.
Another major development for Halifax Online was the launch of Halifax Web Saver on 27th April. This unique savings service is the first service to allow customers to „mix and match‟ their savings, using variable and fixed interest rate options. Halifax Web Saver - the interest rates are: Option Variable rate without cash card Rate 6.25% AER Min. Opening Balance £1
Variable rate with cash card (one of these can be opened) Fixed rates (3 mths to 5 yrs) Rightmove:
5.50% AER
£10
6.09% to 6.90% AER
£500
In February, Halifax, in conjunction with three other major estate agency groups, launched an Internet-based initiative. The new web site “rightmove” at www.rightmove.co.uk, will initially feature up to 120,000 properties for sale throughout the UK. The new site is a joint venture with Countrywide Assured, Royal & Sun Alliance and Connells.
PRESS RELEASE
For further information contact Alison Roberts - Head of Group Press Office, Halifax Group plc, Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Registered in England No. 2367076. Tel: 01422 333333. Fax: 01422 333007. (Out of Hours Tel: 01706 839544/01422 201306.) Internet Website: http://www.halifaxplc.com Email: pressoffice@halifax.co.uk ISDN Facilities are available for broadcast media interviews.