Paragon Bank has launched a buy-to-let (BTL) mortgage origination platform.
The system is said to provide a streamlined application process based on individual circumstances which will help to provide quicker decisions in principle and tailored application requirements.
It aims to keep brokers informed on progress throughout the mortgage process while also reducing the application-to-offer time by processing applications more efficiently.
Paragon says the system draws on data from sources including Companies House, Experian and Hometrack to pre-populate application details.
The platform tailors application requirements to each case, ensuring that only relevant questions are required and information is requested once.
Artificial intelligence has been used to support underwriters by extracting, analysing and validating for their review.
In addition, intermediaries can upload their client’s property schedule for improved validation, with the schedule stored for returning customers, reducing the documentation required for future applications.
Paragon Bank managing director of mortgages Louisa Sedgewick says: “The launch of our new mortgage originations platform is fantastic news for us and our broker partners because it will transform how we work together.”
“Delivering a faster, smarter and more flexible experience, we’re really excited to share it with the market after spending two years developing it with lots of input from intermediaries.”
