The specialist lender has spent this year building the new system which now integrates with the bank’s existing broker portal for mortgages, buy-to-let (BTL) and second charge loans.
United Trust Bank (UTB) has launched its new bridging portal for brokers in a bid to streamline the application process, Decision in Principles (DIPs) and completions.
The specialist lender has spent this year building the new system which now integrates with the bank’s existing broker portal for mortgages, buy-to-let (BTL) and second charge loans.
The portal allows brokers to generate indicative terms and ESIS documents within minutes, 24 hours a day, seven days a week, supporting out-of-hours client appointments and more flexible working.
Once an application has been submitted, no paper forms or wet signatures are required, helping to reduce processing delays.
Other features include document upload functionality, information request notifications and secure messaging with underwriters, enabling brokers to track case progress and communications in one place.
The system also integrates free HomeTrack automated valuation models (AVMs) to support quicker DIPs and completions, alongside automatic Equifax credit checks and director background checks to speed up know your customer (KYC) requirements.
UTB said the digital journey will reduce administrative tasks for both brokers and underwriters, allowing them to focus on more complex cases and improving turnaround times.
The lender added that the platform has been built to support automated underwriting, which is expected to launch later this year.
It anticipates that a significant proportion of bridging applications will receive an instant binding approval or decline through the portal, with more complex cases continuing to be referred to underwriters for manual assessment.
Buster Tolfree (pictured), managing director – mortgages, BTL and bridging at United Trust Bank, said: “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, BTL and bridging product suite and continue to invest in sophisticated new technology driving quicker and more successful outcomes for customers and brokers.”