56% call for mortgage digitalisation

56% call for mortgage digitalisation




Over half of Brits believe that the mortgage sector should be digitalised, according to new research.

Figures released by new digital mortgage provider BlueZest found that 49% of respondents believed mortgage applications take too long, while 56% claimed that the sector requires digital innovation.

Russell Gould, CEO of BlueZest, said: “Applying for a mortgage is a notoriously laborious task that most of us are resigned to as a necessary evil.

“The results of this research reflect the notion that we’ve heard time and time again in our conversations with homeowners, intermediaries and business owners.

“Applying for a mortgage takes too long, it’s too complicated and it’s highly stressful.”

BlueZest revealed that 44% reported that their mortgage application took over a month.

Furthermore, 22% of respondents found the application process so stressful that it would deter them from moving house again.

Russell explained that BlueZest was founded in order to reduce archaic manual processes, such as paperwork that can cause delays during mortgage applications.

The firm aims to offer an online application process that will enable mortgage decisions to be made in under 30 minutes.

BlueZest products will be available later this year at www.bluezest.com

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