The lender’s new Mortgage Pro platform aims to halve the key-in time to input customer data to 15 minutes, while cutting applications by two working days to 12 days.
The new system has Application Programming Interface (API) functionality that will be deployed after a full roll out of the platform towards the end of January – but within no set time frame.
It will also allow brokers to work on the move through smartphones and tablets.
Roland McCormack, mortgage distribution director at TSB, (pictured) said: “I expect in three years’ time there will be two types of lenders; there will be those lenders who have built links to other brokers’ systems and those who don’t.
“And those who do, will then be able to help brokers get ready for the digital age.”
Select advisers at London & Country (L&C) have been testing the platform without API integration for a week, with a wider rollout of the pilot across the network and other brokers in the coming weeks before full launch at the start of next year.
The systems have taken 15 months to build and means TSB will no longer be using Lloyds and Halifax technology, after splitting from the group in 2014.
Peter Gettins, product manager at L&C Mortgages, said: “TSB are going through a really thorough testing process to ensure the system performs exactly as it should come launch day.
“It’s something we did with the initial launch, which went extremely well so we’re delighted to be able to help them with it again.
“They’re putting a lot of effort into getting it right, and the initial feedback from our testers is very positive: it’s easy to use and should be a very good system once it’s fully-rolled out.”
Fast decisions with simple updates
There will be no differentiation between consumer and broker channels or offerings.
The lender said it has taken ideas from online shopping, with case update alerts coming through mobiles and tablets, as well as desktop.
TSB aims to respond to queries within 24 hours.
McCormack said: “It’s quick decisions that are solid decisions.”
Brokers will also be able to offer their client further advances or change mortgage terms.
McCormack added: “We see the mortgage adviser at the heart of the relationship with the customer.”
Under the new system, there will be no need for printing and signing documents – with applications submitted at just the click of a button, said TSB.
In product transfers, increased home values will automatically be factored in, so the best loan to value offers are available.
The new platform will also allow TSB to launch new products in a matter of weeks – rather than the current months, it said.