Paragon Bank has unveiled a digital platform to support BTL mortgage origination for intermediaries.
The unnamed system draws data from third party sources such as Companies House, Experian and Hometrack to pre-populate application details.
Artificial Intelligence is also used in the system to support underwriters by extracting, analysing and validating information for users’ review.
Intermediaries can upload their clients’ property schedule for improved validation, with the schedule stored for returning customers, reducing the documentation required for future applications.
Brokers can also use the system to be kept informed of how mortgage applications are progressing.
The platform’s launch is being phased over the first quarter of 2025 and will initially be launched with a small number of mortgage networks and clubs.
The full launch of the platform is expected to happen by the end of March.
“The launch of our new mortgage originations platform is fantastic news for us and our broker partners because it will transform how we work together,” said Louisa Sedgwick, managing director of mortgages at Paragon Bank (pictured above).
“We have been blown away by the feedback we have received during the test phase and our broker partners report that it is far quicker and simpler to submit their clients’ applications than our previous system. It also gives us greater capacity, increasing the level of business we can process and enabling our team to focus on delivering an even better service to our partners.”
