Lender Connect pre-populates decisions in principle (DIPs) and full mortgage applications using data already captured in advice and mortgage sourcing software.
Iress said this would speed up the application process by around 20 minutes per case and minimise rekeying.
Lender Connect is available in Xplan Mortgages and Trigold and can integrate with any advice software or lender portal.
The firm added that there had been strong broker demand for Coventry Building Society’s residential and buy-to-let (BTL) deals.
Jacqueline Durbin, head of product – sourcing at Iress, said: “Once you’ve experienced a streamlined process, one that saves you a significant amount of time and effort in your day-to-day work, it’s hard to go back to doing mortgage applications the ‘old way’.
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“That’s why we’re seeing increasing demand from brokers to add specific lenders like Coventry Building Society to Lender Connect. By joining Lender Connect, Coventry Building Society will benefit from providing an improved digital mortgage journey with faster processing time and improved data accuracy, so it really does benefit everyone all round.”
Kevin Purvey, director of mortgage distribution at Coventry Building Society, added: “Over the past few years, we have invested significantly to improve the journey for our broker partners, primarily by moving our mortgage platform to MSO.
“This has yielded meaningful time savings for all, and we are regularly seeing instances of same-day offers. Partnering with Lender Connect was a natural next step in building out our digital journey [that] supports broker demand and removes the need to rekey essential information to secure a DIP decision.”
In November, Principality Building Society joined Lender Connect.
