The move will speed-up submission of applications through the firm’s portal and reduce re-keying of data, it said.
A spokeswoman from The Buy to Let Business (TBTLB) told Specialist Lending Solutions that while there were no other lenders in the pipeline yet, the firm was looking to continue expanding this technology.
Foundation added that it was expecting to rollout the interface technology for its system with other distributors as well.
Broker users will not have to re-enter information but will be directed to input the application details onto their own system only.
Instead of logging into Foundation Home Loan’s broker portal, advisers sending the decision in principle (DIP) directly can choose the product and submit their choice, with the decision being posted within The Buy to Let Business’ system.
Share with additional distributors
The Buy to Let Business managing director Ying Tan said: “We are delighted to be working in partnership with Foundation Home Loans on this exciting new interface.
“As a company we are passionate about embracing technology in order to streamline procedures and this is a great example of lenders and brokers working together to benefit the client.”
Foundation Home Loans commercial director Andrew Ferguson said: “Recognising the pace of technological development in the sector, we are embracing this new API programming to innovate the way we support adviser’s experience and day-to-day client work.
“We expect to share this technology with additional distributors in the foreseeable future and are confident the offer will prove favourable with our advisers.”