"These digital tools are available to all registered brokers for all UTB’s mortgage products including purchase, remortgage, interest-only and second charge loans."
The application for a first charge mortgage was submitted by Willows Finance via UTB’s broker portal at 14:35. The portal’s auto-underwrite system had already confirmed all underwriting requirements when the DIP was passed at point of sale, and met the criteria for an AVM meaning that a physical valuation of the property wasn’t required.
At 16:10 The borrower completed their biometric ID verification using the UTB app and the mortgage was offered at 17:43 on the same day.
Buster Tolfree, director of mortgages at United Trust Bank, commented: “This lightning-fast turnaround is the result of considerable fintech investment by UTB over the last three years. We launched the ground-breaking UTB app with biometric ID verification in 2019, secure webchat in 2020 and most recently document upload via the portal and the DIP and auto-underwrite functionality. These digital tools are available to all registered brokers for all UTB’s mortgage products including purchase, remortgage, interest-only and second charge loans.
“We’re supporting brokers by providing great products, an outstanding service, common sense underwriting and a commitment to continuously improving the speed and efficiency of the mortgage application process, both of which are key drivers of successful conversions.”
