Personal service for first-time buyers

A personal service for first-time homebuyers

With an increasing population, the need for housing has never been greater. And with more affordable housing on the government agenda as well as more schemes to help first-time buyers, it’s never been more affordable to get on the property ladder.

Just one of the ways the Group is helping first-time buyers is by offering video interviews for mortgage applications. It gives customers the option to complete their Halifax or Lloyds Bank mortgage application by a video link, similar to Skype, giving them a more personal service with face-to-face interaction. So far, over 20,000 buyers have used the service to complete their applications.

Face to face

Jackie McKnight, who leads a team of Mortgage Advisors who support customers via video said: “This type of interview allows our advisers to ensure a customer really understands the mortgage application process. For a first-time buyer this can be a quite daunting and the face to face interaction that video provide really seems to be helping with this.”

There’s also a document upload service used by video mortgage advisors, which gives Halifax and Lloyds Bank simple access to customer’s documents, speeding up the whole process.

A better understanding

First-time buyers Farrah Naz and Waqar Ahmed approached Halifax to apply for a mortgage and purchase a mid-terraced house in Manchester.

Farrah said: “I thought the application process was very quick. It was easy to talk to Christina, the mortgage adviser, she explained everything thoroughly, and it was handy to be able to see the documents at the same time.

“I think video could be a good option across other products, it’s much nicer being able to talk to someone face to face than just over the phone, and going into a bank takes up time.”

A personal service

Christina Carty, supported them with their application. She said: “It was important to take it slow as it was a new application process for them. Because of the video, I could see Farrah was closing her eyes to take in the information, so I slowed down how I was speaking and checked they understood everything. I could see she looked relieved. I picked up on that because I could see her. I wouldn’t have had a clue if I was on the phone.”

She added: “When we are going through the documents on the video and explaining it, their understanding of it is far better as they can read it with you and you’re not just talking about it.”

Christina explained that the video process helps customers feel like they know the advisor and that they’re being taken care of. She said: “They know who you are now, you’re not just a voice on the phone, so when we have to get back in touch with a customer it feels more personal and not just some random voice on the other end.”

A personal service

Helping Britain Prosper

Halifax and Lloyds Bank’s video interview service is just one of the ways the Group is trying to make life easier for people and help local communities flourish, which is at the very heart of their Helping Britain Prosper commitment.

Jackie adds: “Through this process we are able to build a personal relationship with our customers from the comfort of their own home or wherever else may be convenient. Buying a home is the biggest commitment most people will ever make and we are there, face to face, supporting them.”

The Group continues its commitment to support first-time buyers, with more than £5 billion lent so far in 2017, on track to meet the target of £10 billion in the year.