Monmouthshire Building Society has added a new tranche of brokers to its loans origination software pilot, as well as increasing product availability ahead of the whole of market launch scheduled for autumn.
Last month, Monmouthshire Building Society launched a pilot of MQube’s Origo platform, to simplify and speed up its whole mortgage journey, with three selected brokers – L&C Mortgages, Elite Independent Mortgages and MPI.
This pilot has now been extended to include Lima Money, Watson & Co, Remoo Ltd, Mortgage Advice Bureau, Mortgage Style and Mike Powell Mortgages and MP Financial Services (Wales) for its residential products.
Results have been very encouraging during the first month of the pilot, with data showing quick turnaround times for applications, with some taking less than 24 hours from application to offer for brokers using the new system.
Bethan Jenkins, Mortgage Transformation Lead at Monmouthshire Building Society, said of the new system: “We are really pleased that we have been able to open up the pilot to even more brokers, so they can see themselves the improvements we have made to our mortgage application journey.
“We are constantly tweaking the system to ensure that it’s functioning in the way our intermediary partners are expecting and wanting it to work and hopefully, by the time we are ready to open it up to the whole of the mortgage market, it will be at peak performance.”
Sheldon Martin, financial adviser at MPI, said: “Having used the new system as part of the pilot, I’ve been really impressed with how straightforward and user-friendly it is. It’s intuitive, easy to navigate and significantly reduces time spent on administration.
“The integration of credit information helps streamline applications from the outset, creating a smoother and more efficient experience for both brokers and clients. It’s a great example of technology being used to simplify the mortgage journey while maintaining a high level of support throughout.”
For more information about any of Monmouthshire Building Society, visit: https://www.mbs-intermediaries.com/