This comes ahead of the portfolio landlord underwriting standard coming into force in September.
Nationwide Building Society has expanded its partnership with EDM Mortgage Support Solutions (EDM MSS) ahead of the portfolio landlord underwriting standard coming into force in September.
EDM MSS is developing a solution allowing brokers to upload portfolio property details directly onto the platform, which will be validated and sent to The Mortgage Works’ portfolio underwriters for assessment
Nationwide was the first major lender to sign up to the software – entitled PRISM – in 2016.
Rob Stevens, head of property risk, operations and strategy for Nationwide Building Society, said: “We’ve worked closely with EDM to give brokers a choice around how to submit portfolio property details.”
Joe Pepper (pictured), managing director of EDM Mortgage Support Services, added: “A significant number of buy-to-let landlords have portfolios with four or more mortgaged properties, a big enough proportion to add significantly to lenders’ workloads.
“We have worked hard with Nationwide and have a proposition to suit the needs of the buy-to-let industry in light of the PRA requirements.
“Crucially this technology can be quickly and easily delivered as a standalone solution to buy-to-let lenders without changing existing mortgage platforms.”
