LendInvest introduces automatic DIPs

The automatic DIPs are available for residential deals on Tier 0 and Tier 1 mortgage applications, and mean that on cases where certain criteria are met on application, the case with be automatically accepted. The lender said that the fact that no underwriter will be required to review the application will mean that both the broker and borrower save time.

LendInvest’s residential range is aimed at aiding borrowers with more complex circumstances, such as having multiple sources of income, the self-employed and small-business owners, as well as a bespoke product set aimed at supporting key workers.

Esther Morley (pictured), MD for residential homeowner at LendInvest, said that launching automatic decisions in principle would not only expedite mortgage applications, but also deliver a tangible benefit to both brokers and borrowers.

She added: “Speeding up the application process is high priority for the team, and we’re excited to be announcing further platform developments in the coming months.” 

Last month LendInvest reported its profits were stable at £14.3m in 2023, while it recently secured £500m in funding from Chetwood Bank which will go towards both buy-to-let and residential lending.