UTB Mortgages for Intermediaries rolls out BTL online dips


UTB Mortgages for Intermediaries has made its principle decision-making process available online for all its buy-to-let products, which it says “significantly enhances the existing service and conversion benefits for brokers”.

The bank’s broker-only arm says that until recently the majority of its BTL applications were referred for manual underwriting review, but after a successful trial, brokers will now see an immediate pass, fail decision. or referral on its broker portal decision in principle. filter.

The company says:

  • A pass is an endorsement, valid for 30 days. Further information will also appear
  • A failure is a refusal, the lender will not proceed. A reason will be provided
  • A reference means that additional manual review by the bank is required. He will answer in two hours

The lender points out that these new features, combined with existing features such as remote identity verification and secure document upload via the UTB app, “make the BTL application process faster and easier.”

He adds that a success decision triggers an automated underwriting process.

The company says information already entered by brokers, combined with a series of API integrations with third-party vendors, such as Equifax and Hometrack, creates a set of requirements tailored to each case. . It indicates that, for example, the system will already recognize whether the requestor is a private individual or a special purpose vehicle and will ask for specific information relating to this scenario.

The lender points out that once the brokers have met the necessary application requirements, the documents can be uploaded and the file submitted as normal. After a complete mortgage application, all information will be assessed by an appointed underwriter, and the bank will liaise with the introducer regarding any additional information required before a mortgage offer can be issued.

United Trust Bank Sales Manager – Mortgages, Mike Walters, said: “After rigorous testing, the technology that allows us to increase our BTL capacity is now live, giving brokers with BTL cases access to the same quick and easy application journey, which powers our residential mortgage offering.

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