Second Charge Lending
Masthaven completes API link-up with Specialist Mortgage Group
Masthaven Bank has partnered with Specialist Mortgage Group (SMG) in a move which the firms argue will give brokers almost immediate decision-in-principle (DIP) responses.
The lender’s application programming interface (API) will now be connected with SMG’s application platform Lenderlink. As a result, its second charge products will be included in the application funnel at a DIP level, a move it argues will make it easier and quicker for brokers to place cases.
Masthaven said it plans to roll out its API connection to more broker firms this year.
Jon Hall (pictured), managing director of Masthaven, said APIs have the potential to “completely transform” the mortgage industry, with positive effects already being seen through things such as auto-filling technology and real-time case tracking.
He continued: “While we recognise the power of technology, we don’t ever undermine the importance of human intelligence. Tech allows the specialist lending sector to complete tasks smartly and with speed, but real people will always lie at the heart of the market.”
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Matt Cottle, chief executive officer at SMG, said: “It’s great to see the power of APIs really starting to make a difference in the market and we look forward to seeing more of these capabilities utilised in due course.”