Simple, secure and paperless Buy-to-Lets by bringing people and technology together

As we look ahead to a new year, we find ourselves faced with many of the same challenges posed in 2020; how to make Buy-to-Let applications simple, secure and still connect brokers and their clients with the right experts for our deal.

LendInvest’s focus has always been to improve the mortgage application process for everyone, especially your Buy-to-Let clients, and this past year has sped up that process as we’ve had to find ways to continue getting your deals completed in a world of restrictions and lockdowns.

Here’s how we’ve found we can put technology and people together to improve Buy-to-Let applications.

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.

A simple and secure way to speed up your case is Open Banking, a 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 this reduces both the paper burden and the time you need to go back and forth with your clients.

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.

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, in-built Equifax searches and e-signatures to reduce paperwork, we aim to consistently streamline our processes and make the customer journey quicker, simpler and paper free.

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.

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.

Even as we enter lockdown three, this mentality hasn’t changed. The whole business has continued lending remotely from the day the first lockdown was announced, and this approach shouldn’t change for lenders going forward.

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.

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.