Trussle has announced a new “mortgage speed promise” to its customers that will see advice offered within 24 hours, and a mortgage decision within five days.

The online mortgage broker becomes the first broker to offer a service that promises mortgage decisions to customers within five days, following the launch of the initiative yesterday.

As a result of the pandemic, Trussle reported that average mortgage approval times have slowed down “dramatically”, stating that application processes with high street lenders can currently take 15 days or more.

Due to a current “lack of consistency” in mortgage approval times among lenders, the broker said, it will only work with the UK’s fastest lenders to deliver on its five-day service commitment. Nine lenders will be part of the promise at launch, including Halifax, HSBC, Barclays and Clydesdale.

Alongside the speed promise, Trussle also revealed that it is actively working with a wide range of lenders to improve their approval times and include them in its speed promise in the future.

Trussle CEO, Ian Larkin, commented: “Buying a new home should be an exciting time, and so it’s such a shame that it’s considered one of the most stressful processes in life. Trussle was created to make mortgage applications easier and now we want to give our customers the certainty they desperately need at a very early stage in the process.

“By using technology and automation to cut out needless hassle, we can give our customers decisions in days not weeks, without compromising on service, to hopefully bring some of that excitement back to buying a home.”

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