United trust Bank (UTB) has launched an online Decision in Principle (DIP) and automatic-underwriting system.
United trust Bank (UTB) has launched an online Decision in Principle (DIP) and automatic-underwriting system.
This is to provide brokers with point of sale decisioning available 24 hours a day, 365 days a year, according to the bank.
The system enables brokers to receive a real-time pass, refer or decline decision following completion of a short application process taking around three to five minutes.
As well as this, if the product requested does not fit UTB’s criteria, the system will provide alternative products more suited to the applicants’ circumstances.
The online DIP is integrated with Credit Search and Automated Valuation Model providers all to provide a binding 30-day decision.
Buster Tolfree (pictured), director of mortgages at United Trust Bank, said: “There’s a lot of activity in the mortgage market but brokers aren’t necessarily getting the speedy service from lenders they deserve, especially with their more difficult to place cases.
“These latest process enhancements will enable brokers to quickly obtain a DIP, be referred to a specialist underwriter for further help or get a swift decline, 24 hours a day, seven days a week and our auto-underwrite system should help accepted cases fly through to a quick full mortgage offer.”
