The Leeds Building Society has unveiled a new technology platform which the mutual says will make the mortgage process quicker, easier and more user-friendly for intermediaries.
The Society’s Mortgage Hub was developed in partnership with Iress, and its MSO software will provide online functionality from application to completion.
It is being rolled out to the market over the coming weeks in a phased approach and the Leeds claims the technology will provide:
- Instant Decision In Principle on the majority of applications
- Day one automated document requests and valuation instructions
- Real-time case tracking and updates
- Full self-service functionality, allowing changes without needing to call or email
- Administrator and Supervisor permissions offering flexibility to support remote working
Martese Carton, the Leeds Building Society’s head of intermediary distribution, said: “Our investment in Mortgage Hub is directly attributed to the importance we place on supporting the mortgage market,” said Martese.
“Having listened to feedback, we’ve developed this platform to provide the best possible experience and service to our intermediary partners.
“Using API technology, Mortgage Hub links to other systems, such as valuers, and offers us a base for further improvements as we continue to innovate in the mortgage market, especially in under-served sectors.
“The phased roll-out is progressing to plan and I’m excited to see the new system available to thousands more users in the coming weeks.
“A simpler end-to-end process will save time and effort and help intermediaries to provide their clients with the very best service, as well as freeing up colleagues for underwriting and other specialised tasks.
“Mortgage Hub also creates more capacity for our telephone-based Mortgage Service Desk, for the times when our intermediary partners need that all important human touch.”
Andrew Simon, Iress’ executive general manager of product, added: “The partnership with Leeds Building Society is a testament to the flexibility and functionality of MSO as well as the ambition and vision of the Society itself.
“In creating Mortgage Hub, Leeds Building Society has brought to market a cutting edge solution that truly benefits its users, combining technology and human interaction in the best possible way.”