London based mortgage lender Metro Bank has recently unveiled the upgraded version of its mortgage origination platform. The platform aims to revolutionise the mortgage application process for intermediaries while laying the groundwork for the launch of new products in the shared ownership and limited company buy-to-let markets.
With the enhanced platform, Metro hopes to streamline the mortgage application process and provide an enhanced user experience for mortgage intermediaries and their administration teams. By doing so, they aim to create a smoother customer journey and support a wider range of mortgage customers.
What Does the Upgraded Metro Bank Platform Do?
One of the key features of the upgraded platform is the ability for brokers to request a day one valuation in more cases. Previously, intermediaries had to wait for the initial underwriting process to be completed before requesting a valuation. This improvement enables them to meet their customers’ needs more efficiently and maintain more control over the process for their clients.
The upgraded platform also means that mortgage administration teams will now have the capability to manage applications post-submission, allowing them to keep the cases moving swiftly through the system to the point of offering. This added function ensures that the application process remains and efficient, providing a positive experience for brokers and their admin teams.
What Have Metro Said?
Charles Morley, Director of Mortgage Distribution at Metro Bank, expressed his excitement about the significant system transformation and the positive impact it will have on their operations. Morley stated:
“This significant system transformation will help us to support a wider breadth of mortgage customers. We have worked hard on delivering a more efficient process and are confident that these changes will make a real and positive difference for mortgage intermediaries and their teams, creating a smoother customer journey.”
Shared Ownership and Limited Company Buy-To-Lets
Morley also highlighted that the upgraded platform serves as a significant milestone in Metro Bank’s journey and provides the foundation for increased flexibility and new strategies. As part of this strategy, the bank plans to introduce new products for the shared ownership purchases and limited company buy-to-let markets.
Unlike many UK mortgage lenders who have reduced their product offerings and tightened their criteria, this move to expand Metro Bank’s product offerings seems to show their commitment to addressing the evolving needs of customers in the mortgage market we find ourselves in. By venturing into shared ownership and limited company buy-to-let markets, Metro Bank is helping people looking at alternative borrowing methods and supporting new ways of purchasing in a particularly difficult market.
Speak To a Mortgage Advisor About Shared Ownership and Limited Company Buy-To-Lets
Whether you are looking to purchase a property through shared ownership to live in or are a landlord looking to explore potential limited company buy-to-let options, out advisors can help. Our team of brokers have years of experience and knowledge, and can help you to find the best solution for your property needs. Call our team or send us an email today to get the ball rolling.