Kensington Mortgages has partnered with Koodoo to create an online remortgage portal for brokers and clients.
The portal provides brokers and borrowers with the remortgage rates or products available as they come to the end of their fixed rate term. It allows brokers to switch their clients to a new rate product within minutes and receive the corresponding proc fee.
The firms claim that the portal simplifies and streamlines the remortgaging process and provides clarity for customers and brokers.
The portal is one part of Koodoo’s origination platform, which includes digital distribution through comparison sites, a digital decision engine, underwriter portal and integrations with digital data sources to assist underwriting.
Vicki Harris, chief commercial officer of Kensington Mortgages, said: “We’re delighted to unveil our new remortgage switch portal. We believe the portal will make remortgaging faster and simpler for brokers and clients alike.
“Our aim is always to innovate and help improve the way our mortgages work, and with the help of Koodoo we’re doing just that, as well as reaffirming Kensington’s place as a leader in specialist lender mortgage technology.”
Seb McDermott, CEO of Koodoo, added: “We are thrilled to have joined forces with Kensington to deliver an industry-leading portal for Kensington customers and their brokers. The portal enables a product switch in minutes and is fully integrated with Kensington systems meaning no re-keying and real time decisions.
“We look forward to continuing our partnership with Kensington as we work together to harness technology for the benefit of customers, brokers and underwriters in the mortgage industry.”