Through Digidentity, a digital ID can be created at the beginning of the mortgage application.
Smartr365 and Digidentity have released a digital identity service for remortgaging.
Through Digidentity, a digital ID can be created at the beginning of the mortgage application, which can then be used to certify the borrowers' identity at every stage in the mortgage journey, including to lenders and conveyancers, as well as with HMLR.
As a result, individual identities – confirmed with photographs, document scans, and income details – can be used from end-to-end, with no need to re-submit or re-key any supporting information.
The firm said that brokers who use Smartr365 will be the only ones able to offer digital remortgage deed signing to their clients.
Additionally, borrowers will be able to complete the process in three days, it added.
Conor Murphy, chief executive of Smartr365, said: “Technology is the key to a faster and more secure mortgage process, and it’s important that we work to enable this reality across the whole home ownership process.
“Our users will be able to use the digital ID collected at the start of the mortgage process to authorise remortgages, saving time and reducing the risk of fraud.”
Jonathan Evans, business development manager at Digidentity UK, added: “Digital ID has already changed the mortgage process for the better, and we’re delighted to be able to extend this to even more remortgagors and their brokers together with Smartr365.
“Working together to remove even more hassle from the process benefits everyone involved, simplifying remortgaging for lenders and conveyancers on top of brokers and borrowers.”
