Blog post
November 2, 2020

How do you improve Buy-to-Let applications? By putting people and technology together

by Sophie Mitchell-Charman, Sales Director

A version of this piece originally appeared in Mortgage Strategy. To see our latest Buy-to-Let rates and offers, and get an instant quote, please visit our Buy-to-Let page

While a broker’s initial first contact with a lender may be a result of them sourcing a special rate or preferential criteria, I believe what you really want for both your client and yourself comes next.

We always look to offer your clients the best Buy-to-Let rates and promotions but we also work to make your job simpler, quicker and the overall process more enjoyable. This is why our greatest focus is on improving the process from that initial contact from your BDM, to getting your client their next Buy-to-Let mortgage. 

Get your deals faster 

When working with brokers through the application process, I’ve seen firsthand the difference small improvements to the process can make to a borrower’s application, often with a simple bit of technology.  

But before the technology starts, I often find the most efficient way to move a case forward quickly is with good packaging, which is why we put the relationship between BDM and case manager at the heart of our approach, helping brokers and their clients get everything they need at the start, rather than going back and forth on small details. 

A fully packaged application enables cases to begin immediately with searches and valuations, and supporting brokers at this key early stage is a vital part of getting the speed they want on their next deal. 

Download our packaging requirements for faster Buy-to-Lets.

From a technology perspective, another way to speed up your case is Open Banking, a secure tool we’ve been using to aid the underwriting process by allowing the underwriter see the relevant accounts and make decisions straight away, rather than ask you to produce documentation and have to keep going back and forth to find the right information.

This is an approach we will continue to bang the drum about. 

We have seen the impact it can have on your clients’ speed to offer and how it reduces the paper burden on you. With the use of Open Banking, we have a significant number of cases move from application to offer in under 10 days. In a new, paperless and contact-free world, any step to securely digitise the process is one we welcome with open arms. 

See examples of Buy-to-Let offers in under 10 days with Open Banking.

Technology and people 

Gaining a better insight into your needs has been key to this drive to find ways to make your job easier throughout the application process.

Whether this is simply a guide to our packaging requirements so we can start your cases quickly, Onfido for digital ID verification and e-signatures to reduce paperwork, we aim to consistently streamline our processes and make the customer journey more simple.

I understand that with improving any well-trod process – often with tools that have never been used before – comes concerns, which is why each tool we use fits neatly within the application process you are familiar with. Quick steps to make your job simpler and give your clients peace of mind throughout is what helps our team and you.

As you know, Buy-to-Let mortgages are as much about conversation as they are about process. You need to be able to speak to your BDM, underwriter or case manager whenever you need to, for ironing out any complexities in the case or just for checking in on progress for you and your clients’ piece of mind.

That’s why, regardless of the technological improvements we make to the Buy-to-Let application process, we put people front and centre, with local BDMs operating in every region, a salesdesk for any urgent questions and direct access to your underwriters and case managers throughout. 

Supporting your most important clients

The growth of professional landlords in recent years has been a great thing for the sector, and is why we’ve made supporting them to maintain and grow their portfolios a key focus for us. 

Making it easier to incorporate portfolios into LTD companies, not having a limit on the background portfolio and newly introduced appetite statements, which give them the backing to go out and find their next investment, are some of the ways we aim to help your most important clients to keep growing their businesses. 

This is where our personal and technological approach best joins up to give your experienced clients what they need; quick applications and a tailored approach led by their experienced contacts in our team. 

Rates and offers come and go, appetite for high LTVs change, but it is by improving and simplifying the processes and building relationships with experienced team members that brokers see the real value of lenders, and why ours keep coming back to us. 

To see our full updates rates and offers on Buy-to-Let and get an instant quote, please visit our Buy-to-Let page