Nationwide partners with Experian to speed up mortgage application process 

Nationwide has partnered with Experian to automate the checks needed to verify a customer’s income, speeding up the mortgage application process. 

Through Experian’s Work Report income and employment verification service, Nationwide is able to digitally confirm homebuyers’ declared income instantly, removing the need for applicants to provide manual income proofs, such as copies of their payslips. 

Alongside its recent expansion of automated valuation models, Work Report has increasingly enabled a move towards instant offers, in minutes rather than days, improving efficiency and certainty for both customers and mortgage brokers.

Paul Speirs, managing director of consumer information services at Experian UK&I, said: “Income verification is a key point of friction in the mortgage journey and having one of the country’s largest and most well-known mortgage lenders use our solution to enhance their service is outstanding recognition for the value Work Report brings. 

“We collaborated closely with Nationwide for more than two years on the project, developing a full payslip categorisation capability so data can be managed consistently, and helping unlock the key automation benefit for them and ultimately their customers.” 

Henry Jordan, Nationwide’s Director of Home, added: “We are simplifying the homebuying experience for both brokers and customers. The introduction of Work Report is a new and important step in the way our mortgage application process will work. 

“Removing the need to provide proofs and introducing automated verifications will make it quicker for brokers and customers to move from a decision in principle to getting an instant offer.”