Paragon Bank has initiated a full market launch for its BTL mortgage application platform, following a limited rollout that began in January.
Now, all brokers who place business with Paragon will be able to use the lender’s platform that is designed to be more efficient and offer a dynamic digital application process.
In its initial rollout, Paragon collaborated with broker partners to use their feedback and improve functionality.
The platform is integrated with numerous data sources including Companies House, Experian and Hometrack which allows data to be directly gathered and automatically entered into application fields.
AI is also used in the platform to complete previously manual tasks.
“Today is a big day for Paragon because the market-wide launch of our new mortgage application platform represents a leap forward in our company’s digitalisation journey,” said Louisa Sedgwick, managing director of mortgages at Paragon Bank (pictured above).
“It follows more than two years of behind-the-scenes work, but completely changes the application experience, so I’m confident that brokers will agree it’s worth the wait.
"As well as Paragon colleagues who have put blood, sweat and tears into this project, I want to thank the brokers who have helped to shape the system, they’ve been absolutely crucial.”
