BANK OF ENGLAND BASE RATE ANNOUNCEMENT

The Bank of England announced on 2nd August 2018 that the current Bank base rate will increase from 0.50% to 0.75%   What does this mean to your clients?

Valuations instructed & case processing starts:

2 days*

of receiving app. & fee.
*working days

Average application to offer time:

Application to offer

13 days

 

% Post
assessed within 2 days*:

70%

*working days

Lending
decision referral within:

Lending decision referral

1 hour 31 minutes*

*working hours

Telephone
waiting time is up to:

*35 seconds

from dial to pick-up

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