It also announces its return to the 95% LTV market
Melton Building Society, in collaboration with mortgage technology provider Mast, has launched a new platform as part of its first significant step towards digital transformation.
The platform, powered by Mast, aims to enhance the mutual’s loan origination system.
The development is an expansion of Melton Building Society’s existing partnership with Mast, which began in 2021 to improve technology infrastructure through an online application portal for mortgage submissions by MBS Lending, a subsidiary of the society.
“The launch of our new mortgage origination platform will provide brokers and their clients with a better experience at every stage of their application with the Melton,” said Dan Atkinson (pictured), head of intermediaries at Melton Building Society. “We understand the pressures and frustrations that brokers are experiencing in today’s challenging mortgage market, and the new platform has been developed with brokers in mind.
“The new system will remove cumbersome and time-consuming manual processes to offer brokers a better experience when submitting an application with the Melton. Our vision is to build a modern mutual society that keeps pace with the demands of our members and intermediary partners, and our ongoing digital transformation has and will continue to play a critical role in this.”
Joy Joseph Abisaab, chief executive of Mast, expressed enthusiasm about supporting Melton Building Society in its journey towards digitalisation.
“At Mast, we are committed to providing innovative mortgage technology that empowers lenders to enhance their customer experiences and streamline their operations,” Abisaab said.
To coincide with the platform’s introduction, Melton Building Society has also returned to the 95% loan-to-value (LTV) market, offering a five-year fixed-rate mortgage with no fees at 5.75%.
“We sympathise with the challenges buyers have been facing over the past few years, with soaring house prices and the cost-of-living crisis putting extra pressure on those saving for a deposit,” said Jamie Hyland, head of product and marketing. “We hope that by re-introducing 95% LTV products to our product range that we can offer those with smaller deposits an opportunity to achieve their aspirations of home ownership.
“This launch marks the introduction of our new mortgage origination platform, which will help us to bring new products to market quicker, enabling us to be agile and swiftly respond to the market and customer needs keeping our product range attractive to both brokers and clients alike.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
