LendInvest launches automatic DIPs for Residential deals
London, 22 August 2023 – LendInvest, the UK’s leading platform for mortgages, has launched automatic decisions in principle (DiP) in its latest platform update, further speeding up the application process for its Residential Mortgage range.
The automated DiP process means that cases that meet certain criteria on application, will be automatically accepted instead of requiring an underwriter to review the initial application, saving the broker and borrower time.
These instant decisions will be applicable for Tier 0 and Tier 1 mortgage applications.
The Residential Mortgage product is designed to serve borrowers with multiple sources of income, the self-employed and small-business owners, with a bespoke product set to support Key Workers.
Esther Morley, MD for Residential Homeowner at LendInvest, commented: “By launching automatic decisions in principle, we’re not only expediting mortgage applications, but also championing unparalleled benefit for both brokers and borrowers. Speeding up the application process is high priority for the team, and we’re excited to be announcing further platform developments in the coming months.”
LendInvest is the UK’s leading platform for property finance.
LendInvest offers short-term, development and buy-to-let mortgages to intermediaries, landlords and developers. Its proprietary technology and user experience are designed to make it simpler for both borrowers and investors to access property finance.LendInvest has lent over £3bn of short term, development and buy to let mortgages.
Its funders and investors include global institutions such as HSBC, Citigroup and NAB, and, in 2019, it was the first Fintech to securitise a portfolio of BTL mortgages. The company has reported annual profitable growth since 2015 and was named Digital Innovation Award Winner at the Sunday Times Tech Track 100 Awards, and both Specialist Lender and Buy-to-Let Lender of the Year for 2019 at the last NACFB awards.