The case - a conforming self certification remortgage – was submitted by Peter Woods of Park House Associates and received by Platform through its online decision tool, clickdecision, at 6pm on Friday 16th February at which point the application also passed an Electronic ID check. After converting the decision into a full mortgage application via the clickapplication facility, an unconditional offer was given at 2:15pm the following Monday afternoon – a turnaround time of just over five working hours.
Platform has recently signed an agreement with housing data and information company Hometrack to provide Platform with AVM technology to facilitate cases up to 75% LTV. Additional work continues to facilitate higher LTV cases with the view to providing instant online offers by the end of the year.
Paul Hunt, Platform’s head of marketing said: “We are delighted to announce the occasion of our first same day offer using AVM technology and our Click online systems and recognise that this is the first stage in making the same day offer a typical experience for our customers in the near future.
“As each day passes, we are building a greater understanding of the technology and want to ensure our eventual instant online offer proposition not only compliments our risk appetite but also matches or exceeds our proven ability to deliver ‘best of breed’ online solutions to our intermediaries.”
Peter Woods of Park House Associates said: “In an industry where long winded paperwork can often hinder time to offer, it is refreshing that a lender can offer a technological solution to alleviate these problems rather than create them. I am delighted with the results.”
