Landbay partners with eTech to offer brokers PRA portfolio submission platform

by: Edward Murray
  • 09/10/2017
  • 0
Landbay partners with eTech to offer brokers PRA portfolio submission platform
Specialist buy-to-let lender Landbay has teamed up with software developer eTech to launch its online portfolio submission platform, catering for the recent underwriting changes introduced by the Prudential Regulation Authority.

The platform builds on eTech’s established Buy to Let Hub technology. Brokers using the platform see a dashboard allowing them to upload all portfolio property details. From here they can both monitor and manage the portfolios, with streamlined portfolio stress testing and income coverage ratio assessment included to assist a rapid response to loan applications.

Etech’s hub automates all key criteria variables, sending a summary report automatically to the underwriters and allowing the lender to assess individual applications quickly. This process will enable Landbay to maintain existing response times despite the more onerous regulatory requirements.

Paul Clampin (pictured), chief lending officer at Landbay, said: “Thanks to the support and expertise of Etech, our brokers can expect business as usual in the coming months. Landbay has always turned to technology to provide the best and most efficient service to brokers, and this partnership is yet another demonstration of that commitment to lead the way in terms of software and security.”

He added: “Combined with Landbay’s tech-enabled underwriting platform, portfolio landlords, and their brokers, are now able to use this efficient straight-through process to secure a loan, while the robust back-end will make this as quick and accurate as possible.”

Highlighting some specific aspects of the technology, Mark Blackwell, lending and surveying services director at eTech Solutions, said: “We set out to make the new regulatory process as easy as possible for brokers, whether verifying security and portfolio addresses for accurate property verification or taking any version of excel and instantly uploading it into Landbay’s required template, coupled with the ability to allow brokers to submit multiple portfolios linked to multiple loan applications simultaneously to many lenders.”

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