FEATURE
LANDBAY
Bringing systems in-house Paul Brett managing director, intermediaries, Landbay
T
echnology is vital to today’s mortgage market, but functionality can vary widely, from clunky legacy systems that have seen better days to state-of-the-art technology. Most lenders use software as a service (SaaS) providers to run their systems, so they can concentrate on the business of lending. There are many positives to outsourcing your IT to a specialist firm, but we think it’s even better to have our own technology experts in-house. Up until May 2022 we outsourced our origination system, but, being a fintech lender, we wanted to bring all our technology in-house, and have spent the last 18 months creating our own origination system. Intermediaries have been involved in the creation of our broker portal from start to finish. This was imperative to ensure we could make the application process as ergonomic for the intermediary and applicant as possible. Our new broker portal has been designed by our
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BUY-TO-LET INTRODUCER JULY 2022
own technology experts with input from intermediaries to understand what you, the intermediary, want and don’t want. Features requested by intermediaries have been included, and we are very proud of what we’ve created. We have also received fantastic feedback from our intermediary partners, and we thank you for that.
“Our new broker portal has been designed by our own technology experts with input from intermediaries to understand what you, the intermediary, want and don’t want. Features requested by intermediaries have been included, and we are very proud of what we’ve created” EASY-TO-USE APPLICATION SYSTEM
To start with, there is a simple login via a magic link that does not require a password, and faster registration with
reduced steps and processing time. The portal is intuitive, making it much quicker to fill in the application form and access eligibility results. The form asks only relevant questions and provides a tooltip on exactly what the questions mean. Rules are running in the background as the form is filled in and shows available products based on the answered questions. It’s easy to sort and filter products; the system can also see unavailable products and specify why they are unavailable. This ensures no time is wasted by trying to apply for a product for which the client is not eligible. If a client has multiple properties, you need to submit only one decisionin-principle to full application. You may then simply clone the remaining cases, amending property details as required. You can get a full view of all your cases and the stage each is at in the application life cycle with advanced search and filter options. REBRANDING
The launch of our broker portal coincided with a rebrand and refreshed website. Our new, friendly strapline is “Your lending partner,” which we feel reflects the trusted relationships we have with our customers and intermediary partners. Our new branding positions us as a customer experience company designing better ways to buy-to-let, and our vision is to be the go-to funding partner for the private rented sector. Our website also has a new look and content, including buy-to-let guides, handy top tips for a faster application, FAQs, product criteria and rates, BDM contact details, and much more. Being one of the few lenders using its own technology, built in-house, means we don’t have to rely on third parties, and we have full control over updates and new functionality. We are always happy to listen to feedback, which we will act on if it is feasible, as we want our system to be easy for all our intermediary partners to use. www.mortgageintroducer.com
