It will allow cases that meet certain criteria on application to be automatically accepted
Mortgage platform LendInvest has launched automatic decisions in principle (DIPs) to further speed up the application process for its residential mortgage range.
As part of its latest platform update, the property lender is implementing the automated DIP process, which will allow cases that meet certain criteria on application to be automatically accepted instead of requiring an underwriter to review the initial application, saving time for both the broker and the borrower.
The instant decisions will be applicable for Tier 0 and Tier 1 applications for residential mortgages, designed for borrowers with multiple sources of income, the self-employed, and small-business owners, with a bespoke product set to support key workers.
“By launching automatic decisions in principle, we’re not only expediting mortgage applications, but also championing unparalleled benefit for both brokers and borrowers,” said Esther Morley (pictured), managing director for residential homeowner at LendInvest.
“Speeding up the application process is a high priority for the team, and we’re excited to be announcing further platform developments in the coming months.”
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