Exclusively using Amber’s web based point of sale technology, building societies and other mutual organisations will be able to access Amber’s complete product range and its cascade underwriting facility in order to match products to customer’s needs as well as issue KFIs and decisions In principle.

Following a small initial test launch, 10 building societies have agreed to progress with the initiative and will come to the market in phases between now and the year end. In early 2007 Mutual One and Amber will promote the scheme to the wider mutual sector.

Mike Perry, associate director of sales and marketing at Amber, said: “Rather than turn business away that simply did not fit a building society’s own lending criteria, the society now has the tools to access the Amber product range and, with the aid of the DIP system, can quickly satisfy the borrowing needs of far more customers”.