Mercantile Trust joins Propp; Precise partners with CoreLogic – round-up

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  • 02/02/2023
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Mercantile Trust joins Propp; Precise partners with CoreLogic – round-up
Specialist bridging, commercial and buy-to-let lender Mercantile Trust has been added to the lending panel of Propp, the property finance comparison site.

Propp uses technology to simplify and speed up the process of securing property finance for lenders and borrowers. It claims to save borrowers an average of more than £10,000 in interest and fees. 

Mercantile Trust’s products will be included in the comparisons on the website. 

Maeve Ward, director of commercial operations at Mercantile Trust, said transparency was at the heart of Mercantile Trust’s proposition, so joining the platform would help borrowers understand what is available to them from the outset.  

She added: “Mercantile has a strong reputation for working in niche areas of the mortgage market, supporting the underserved, and I’m certain that working together we can support those looking to start their investment journey, as well as seasoned property professionals looking to expand their portfolios.”  

Paul Elliott, managing director of Propp, said: “Given our ambition to become the one-stop shop for specialist property finance, we’re continuously looking to onboard lenders to the panel that address gaps in our offering and add real value. 

“Mercantile ticks a lot of boxes on that front which ultimately means we’ll be able to help more customers in areas where previously we might have struggled. The fact they consider first-time buyers and first-time landlords with no rental history is of enormous value, and their position in the Northern Ireland market enables us to offer more choice to our clients in that region where previously options were limited. 

“Having worked with Maeve in a previous role, we have the utmost confidence that her team will deliver the high standard we expect for our clients and we’re delighted to welcome them onboard.” 

 

CoreLogic adds Precise to platform 

Precise Mortgages has partnered with property risk management and decisioning software platform, CoreLogic UK. 

The lender will use CoreLogic’s Buy to Let Hub to support its underwriting process and speed up the time to offer. 

The platform will give Precise’s broker network access to portfolio information and validate addresses in a format which is ready for submission. 

This is expected to streamline the application process. 

Dawn Mirfin, underwriting and real estate director at OSB Group, said: “The partnership with CoreLogic UK is a win-win for all involved and will help support a smoother customer journey for brokers and their portfolio landlord clients. 

“The additional time-saving and simplification benefits to brokers such as the ability to upload multiple properties in a portfolio at the same time and to be assessed as part of a single application are a game-changer. Plus, the property schedule is valid for 12 months as long as there are no changes to the portfolio. 

“If brokers need any support with the BTL Hub, our award winning team is here to guide them through the process, and if the portfolio schedule is included with the submission we can even upload to the Buy to Let Hub on their behalf.” 

Mark Blackwell, CoreLogic UK chief operating officer, added: “We are delighted to be working with Precise Mortgages and extend the Buy to Let Hub software further across the OSB Group. This will not only improve operational efficiencies ultimately helping get mortgage offers out faster but will also enhance the engagement between Precise Mortgages, their intermediaries and landlord clients.” 

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