United Trust Bank has launched a bridging portal intended to shorten the route from application to decision and completion for brokers.
The specialist lender said the system integrates with its existing broker portal for mortgages, buy-to-let and second charge loans.
Brokers can use the portal at any time to generate indicative terms and European Standardised Information Sheets within minutes. Applications require neither paper forms nor wet signatures once the relevant details have been entered.
The system also provides document uploads, notifications of requests for information and messaging with underwriters. It incorporates free Hometrack automated valuation models, Equifax credit checks and background checks on company directors.
United Trust Bank said the portal should reduce administrative work for brokers and underwriters, allowing staff to spend more time on complex or urgent cases.
The lender plans to introduce automated underwriting later this year. It expects a large proportion of bridging applications to receive an instant and binding approval or rejection through the portal, while more complicated cases will be referred to underwriters.
Buster Tolfree, managing director of mortgages, buy-to-let and bridging at United Trust Bank, says: “This marks an exciting relaunch of bridging at UTB and will help us retain our rightful place as one of the market’s best and busiest bridging lenders.
“We didn’t set out just to improve the old portal, we wanted to completely replace it so that it offers the same class leading features, usability and control our mortgage brokers, customers and staff have enjoyed for years, whilst maintaining the all-important lender/broker relationships so vital in bridging.
“I’m delighted to say that we’ve done all that and more. We now have a unified and integrated future proof solution for bridging, providing real speed, efficiency and case management improvements for brokers.
“In addition, we can now implement future enhancements across the whole mortgages, second charge, buy-to-let and bridging product suite and continue to invest in sophisticated new technology driving quicker and more successful outcomes for customers and brokers.”
