The Buckinghamshire Building Society has streamlined their buy-to-let application process, which is says will allow brokers to provide clients with an instant initial decision on their application, by using an online affordability assessment and calculator.
This comes in response to feedback from brokers.
The society says this will allow brokers to provide a swift resolution for their clients, helping speed up both the customer and broker journey from affordability assessment to completion.
By completing their affordability assessment, this removes the requirement for a decision in principle (DIP), and enables the application to be submitted. The calculator applies to Standard, Limited Company and ExPat buy-to-let mortgages.
The Buckinghamshire Building Society says it worked with brokers to develop this tool to “simplify and speed up the process wherever possible”.
Claire Askham, key account manager at the Buckinghamshire Building Society, said: “The key to our continuous development is our communication with our broker partners, coupled with our innovative approach to do whatever we can to enhance their experience with us.
“Combining the streamlined process with the ability to use non-indemnity search insurance on a remortgage case, will also help to speed up completion times.”