Blog post
June 2, 2020

Case studies: Buy-to-Let offers in under 10 days with Open Banking

Open Banking is a technology we have embraced as part of our Buy-to-Let mortgage applications. 

It reduces the need for paperwork as part of the underwriting process, giving our underwriters secure access to a dashboard of the essential financial information they need to fully assess a deal. 

The information required for us to complete the deal doesn’t change, Open Banking simply allows a full underwrite without the added burden on the broker to physically produce it. 

Here are 5 cases where we’ve seen Open Banking increase the speed to offer to under 10 days:

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Peterborough 

Purchasing an end-of-terrace house.

Days from application to offer:

LTV: 75%

Loan size: £106,875.00

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Aberdeen

Five-year fixed remortgage for a three-floor terraced house in Scotland. 

Days from application to offer: 9

LTV: 75%

Loan size: £405,000

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Walsall

Purchasing a semi-detached house for 12-year terms on a five-year fixed rate

Days from application to offer: 4

LTV: 75%

Loan size: £86,250

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Winchester 

Two-year remortgage for a HMO on the outskirts of Winchester.

Days from application to offer:

LTV: 75%

Loan size: £225,000

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Mansfield

Five-year fixed remortgage for a terraced house.

Days from application to offer: 8

LTV: 75%

Loan size: £56,250

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Your next deal

You can use Open Banking to speed up your next Buy-to-Let deal, get started by submitting an application, visiting our Buy-to-Let page or downloading our latest rates guide.

You can learn more about Open Banking on our blog. 

Luke Stevenson
Posted by Luke Stevenson
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