The improvements were designed to increase the opportunities for West One’s broker partners to place business, and significantly improve the customer experience by speeding up the offer process.
Second charge mortgage new business volumes dropped by 28% in November, according to the Finance & Leasing Association (FLA).
It is business as usual for the second charge market as a third national lockdown has been enforced, according to the latest Secured Loan Index by Loans Warehouse.
The pending restructure resulted in the departure of several key figures from the group over the Christmas period.
The MMA launched earlier this year to provide a collaborative voice for the mortgage industry in promoting the availability of mortgage lending and the value of professional advice.
The value of new business in October was £68m, a drop of 43% year-on-year.
West One has launched an initiative to support the 'Bank of Mum and Dad' (BOMAD) via its second charge mortgage range.
This call to action follows figures from Moneyfacts which revealed the total number of available mortgage products had dropped from 5,222 mortgages in March to just 2,259 in October.
As part of the restructure Scott Thorpe (pictured) will step aside and be replaced by Andy Marsh.
The total value of new business in the second charge mortgage market dropped by 57% to £43m.