Delve into the transformative journey of mortgage distribution through the experienced eyes of Mark Collar.
- From the days of physical application forms to the advent of digital platforms, the mortgage industry has evolved significantly.
- Mark Collar, with a career spanning 35 years, witnessed the shift in intermediary support for homebuyers.
- Technological advancements have streamlined processes, aiding both brokers and lenders in offering better customer service.
- As Mark Collar retires, he leaves behind a legacy of innovation and dedication to the mortgage sector.
Throughout his extensive career, Mark Collar has observed the significant transformation in mortgage distribution, particularly noting how technology has revolutionised the process. Starting his journey at Bradford & Bingley in 1990, Collar was once accustomed to the manual distribution of mortgage application forms. Today, digital platforms have rendered such practices obsolete, leading to more efficient operations.
Collar’s tenure saw the industry transition from paper-based forms to digital systems. Initially, brokers were resistant to this change, finding online submissions cumbersome compared to traditional methods. However, as digital systems mature, they have become indispensable, enhancing the broker and lender experience by simplifying submissions and speeding up the process.
In his role at Leeds Building Society, Collar has been a proponent of improving broker and lender interactions. His efforts contributed to the creation of MSO, a system designed to streamline the mortgage application process, thereby allowing brokers to focus on consulting with clients, ushering them through the complex journey of homeownership.
Beyond first-time buyers, Collar emphasised the importance of retaining existing customers by simplifying the rate-switching process. This focus ensures that those coming off current mortgage rates receive an optimal experience. Improvements in this area have formed a key part of Collar’s strategy, which he pursued passionately at Leeds.
As he retires, Collar’s legacy includes numerous innovations and a forward-thinking approach that consistently placed customer service at the forefront. His career highlights the paramount importance of intermediaries in the ever-evolving mortgage market, as they provide vital advice to an increasing number of homebuyers navigating this complex arena.
Mark Collar’s retirement marks the end of an era of significant transformation and innovation in mortgage distribution.
