The changes have been made, the lender said, to make the system faster and more intuitive, and to benefit brokers when they do business with specialist lenders.
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The upgrade followed the lender’s launch of K-net in 2006, and K-link, which provided the first large scale connectivity programme to allow packagers to link into K-net with binding decisions and Key Facts Illustration direct from the lender.
Ian Giles, director of marketing at Kensington Mortgages, said: “We are thoroughly committed to harnessing technology to improve service for our packagers, brokers and ultimately our borrowers. But Kensington does not rest on its laurels and this upgrade to K-net is part of an ongoing dialogue with our customers to develop our technology in a way that meets their needs. A faster, more intuitive application process as part of a more robust K-net is just another way in which we are making it easier for brokers.”
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Jonathan Barnett, director at All Mortgage Matters, commented: “It’s great to have online offerings as I can save the document on my PC and with offline compliance I can save the progress on the website.”
The launch followed news that Kensington Group sold the non-conforming broker TML Financial Solutions to Customer Financial Solutions. Kensington had reportedly struggled to integrate TML into its portfolio, and it had sold a £2 billion loan folder to Bradford & Bingley earlier this year.
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