UTB said it has spent this year developing the system, which integrates with its existing broker portal for mortgages, buy-to-let (BTL) and second charge loans.
Brokers can generate indicative terms and ESIS documents 24 hours per day, seven days per week through the portal.
No paper application forms or wet signatures are required once information has been entered into the system.
UTB said the system also integrates free HomeTrack automated valuation models (AVMs), as well as automatic credit checks through Equifax and director background checks for Know Your Customer (KYC) requirements. It added that the portal will support the introduction of automated underwriting later this year.
Buster Tolfree, managing director for mortgages, BTL and bridging at UTB, said: “This marks an exciting relaunch of bridging at UTB and will help us retain our rightful place as one of the market’s best and busiest bridging lenders.
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“We didn’t set out just to improve the old portal, we wanted to completely replace it so that it offers the same class leading features, usability and control our mortgage brokers, customers and staff have enjoyed for years, whilst maintaining the all-important lender/broker relationships so vital in bridging.
“I’m delighted to say that we’ve done all that and more. We now have a unified and integrated future-proof solution for bridging, providing real speed, efficiency and case management improvements for brokers. In addition, we can now implement future enhancements across the whole mortgages, second charge, BTL and bridging product suite and continue to invest in sophisticated new technology driving quicker and more successful outcomes for customers and brokers.”
