The Mortgage Hut teams up with Nivo to close more deals, increase efficiency, and significantly improve the customer experience

09 March 2022

Expanding national Mortgage Brokers, The Mortgage Hut, have teamed up with leading fintech provider Nivo to move away from email and towards instant messaging with the aim to close more deals, accelerate the mortgage application process and improve the customer experience ahead of anticipated further growth.

The Mortgage Hut, based in Southampton, currently has a team of over 25 advisors and provides online, telephone and face to face advice to customers seeking a range of residential and commercial mortgages. It works with over 90 lenders offering over 11,000 products. The Mortgage Hut is already a forward-thinking technology enabled brokerage and having considered several solutions, they chose Nivo to provide the platform which will enable them to complete more deals, faster and with an experience customers will love.

The Mortgage Hut is launching a white label version of Nivo’s innovative app which will enable customers to communicate with advisers via a secure instant messaging app. In addition, customers can simply and securely upload the confidential documents required during a mortgage application. The app provides a quick, intuitive, and secure way of communicating with customers during a mortgage application enabling The Mortgage Hut to manage their workflow on a single platform with staff using a desktop-based console which enables visibility of case progression and administration across the broker team ensuring a better experience for customers and staff.

Other mortgage brokers which have implemented Nivo’s white labelled App have reduced document collection times by 90%, doubled the case load capability of their administration teams, driven a 10% increase in conversions and reduced overall administration costs. Importantly, businesses already using white labelled versions of the Nivo App are receiving hundreds of 5-star ratings on their branded versions in the App Store.

Before implementing the new App, The Mortgage Hut’s onboarding team would typically make over 400 calls a day to new leads. This huge outbound effort requires considerable resource, so the Mortgage Hut are also integrating their web form leads into Nivo so that as soon as a prospect enquires about a mortgage, they are automatically invited to download the App without any manual intervention from the administration team. This process will save considerable time and effort and allow the team to focus their time on more value-add activities. The Mortgage Hut have also integrated Nivo into other key processes in the application journey such as additional ID verification and document sharing to reduce friction at these typical ‘bottleneck’ tasks.

Nicola Schutrups, Managing Director of The Mortgage Hut, commented:

"With the new Mortgage Hut App, we’re able to deliver a 24/7, seamless mobile experience that customers can flow through automatically, removing the reliance on phone and email, saving hours of effort, and ultimately allowing us to complete more deals more efficiently.

“Customers love instant messaging, and we need to meet their expectations for smooth mobile journeys. The read and response rates are much higher than email, and with Nivo we’re able to automate key steps. This will save us hundreds of phone hours every week, all whilst delivering an experience that our customers find very straightforward. I’m excited about our plans for 2022 and the positive impact Nivo will have on our business.

“Nivo’s solution is tried and tested, quick to implement and integrated easily with our existing systems and processes. We worked collaboratively with our dedicated Customer Success Manager at Nivo to ensure the solution addressed all our key pain points and will deliver return on investment.”

Matthew Elliott, Chief Development Officer at Nivo commented:

“Forward-thinking businesses like The Mortgage Hut understand that fintech can help their staff to work more efficiently, provide a better experience to customers and increase profitability. We regularly see first charge mortgage brokers doubling admin efficiency, completing over 10% more loans, and slashing tens of hours on every loan.

“The Nivo app is a quick and cost-effective way for brokers to reduce application timescales, improve their communication security and provide a smoother and safer journey for their customers. Time is critical with speed of application having a direct impact on conversions.

“Borrowers are becoming increasingly accustomed to slick mobile experiences, and they will expect to deal with brokers and lenders using well designed and intuitive apps. Nivo is a cost-effective solution which delivers a great experience for brokers, their staff and their customers.”

For more information go to: https://www.nivohub.com/