Lenders urged to adopt client ID system

Ramesh Sharma

February 18, 2006

C&G has been praised for its ‘easy-to-use’ client verification model that allows brokers to sign off clients’ identifications on site.

Hugh Nichols, partner at Badbury Berkeley Mortgage Services, welcomed the lender’s decision to provide an identification system that can be completed on site. He urged more lenders to follow suit. He said: “The new Cheltenham & Gloucester service is very easy. Clients understandably don’t want to give their passports or driving licenses over for a length of time and this new system means it can all be signed off while in the client’s house.” Although not allowed for first-time buyers, all other applications can be verified using the certificate.

John Champion, director of distribution at C&G, said improvements had been made to make brokers’ jobs easier and less time-consuming. He believed this improved identification verification certificate would further enhance C&G’s offering: “We launched the identification verification certificate at the end of January and have had positive feedback since its introduction. In the first week of February we made changes that came as a result of broker feedback and we have been keeping in very close contact with the intermediary community.

“They suggested some obvious and small changes to the form that we took on board. The form saves a lot of time from our perspective and from the intermediaries and there is no too-ing and fro-ing on their part because they know exactly what they need.”

He added the form enhanced C&G’s commitment to combating financial crime and admitted his hopes that brokers completing first-time buyer applications would soon be able to use the form.

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