United Trust Bank (UTB) has made its online DIP process available for all its BTL products, accelerating the application process for brokers.
Following a successful trial of the system, brokers will now be able to see an immediate pass, fail or refer decision on UTB’s broker portal results screen.
A “pass” is valid for 30 days and will provide brokers with further information, a “fail” will show the reason for the declined application, and cases marked “refer” will be submitted for manual review, with a response given within two hours.
A “pass” decision will also trigger an automated underwriting process in the background before presenting brokers with a list of application requirements that must be met before the case can be fully submitted as normal.
Mike Walters, sales director for mortgages at UTB (pictured above), commented: “I am delighted that, after rigorous testing, the technology which enables us to increase our BTL capacity is now up and running, providing brokers with BTL cases access to the same quick and straightforward application journey which powers our residential mortgage offering.
“We have had an overwhelmingly positive response to our BTL products and criteria which once again fulfils our mission to provide great value products to parts of the market not best served by mainstream lenders.
“Demand has grown from day one and, although it was necessary to control our volume during the BTL roll-out, it has been frustrating knowing just how many brokers and borrowers want what we offer.
“This technology-led enhancement allows us to open our doors wider and we look forward to welcoming many new landlord customers to UTB.”
