This includes our decision-in-principle (DIP) model which means that brokers can submit an application via our online portal, MyBrokerVenue, and get a DIP which is valid for 60 days.

During this time, a full application can be completed and we can start our manual underwriting process. The system will provide an affordability assessment, using statistically validated data to begin with, before a real-time credit search with credit reference agencies.

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This offers an instant time saving to the broker, while users also have the option to add additional credit commitments, if needed, for the more complex cases that brokers often approach us with.  

Once the DIP is received, the full mortgage illustration can be downloaded. The MyBrokerVenue portal will also now offer a bespoke checklist to keep track of the required documents. 

The new DIP offering ensures a swift and smooth process, and means we can deliver what brokers want. Across the industry, lenders and brokers are embracing technology to streamline processes and ensure maximum efficiency, and this is a perfect example.

That said, it doesn’t change the fact that we will always make individual assessments of cases as required, and we apply our commonsense philosophy across all our processes.

Given our ambitious plans for growth, we’ll keep on looking for new ways to improve and enhance what we offer, which is very much shaped by the feedback we get from our broker partners.

It’s an exciting time for the specialist lending sector, and having recently hosted our first Together ‘hackathon’ to look at how we can use IT to address challenges and push the boundaries in terms of our business model, we’re looking forward to more developments as we move forward.