Going digital – RBS’s new paperless mortgage is quicker and easier


The property industry is slowly catching up with paperless technology, and a new mortgage from RBS could be the start of a big change if other providers follow suit.

Applying for a mortgage has historically been an arduous, complicated and document-heavy process for both customer and lender. All that looks set to change in an industry first, according to The Royal Bank of Scotland Group (RBS), as they have adopted DigiDocs to enable customers to complete their entire mortgage process digitally.

RBS is using the latest technology to go 100% paperless, meaning customers will be able to complete their mortgage journey wherever they are. Not only will they be completing paperwork digitally, but also the bank’s mortgage agents will be connecting with them remotely through screen sharing technology to guide them through the mortgage process.

Saving time and money

Probably one of the most significant benefits for customers is the ability to complete the process faster. On average the digital process has shaved 11 days off of a mortgage application, with 5% of customers having received a mortgage offer within 24 hours, and the majority within 14 days.

Not only is DigiDocs saving everyone time, but it’s also saving RBS money. The lender will save an estimated seven million sheets of printed paper every year, in addition to the other cost savings for moving the mortgage process entirely online.

Ian McLaughlin, managing director of home buying and ownership at RBS, said: “DigiDocs has allowed RBS to introduce a transformative, unique approach to our mortgage process. The rate of adoption has been outstanding and shows the appetite our customers have for digital solutions that are quicker, easier and more convenient to use.”

Digital mortgage applications are available at RBS, Natwest and Ulster Bank.

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Going digital – RBS’s new paperless mortgage is quicker and easier


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