OneSavings Bank

OSB partners with property risk software developer




OneSavings Bank (OSB) has signed a deal with property risk software developer eTech to implement its online portfolio submission platform ahead of upcoming PRA changes.

The new platform will allow intermediaries to upload portfolio property details, either manually or from Excel.

Portfolios can also be created based on previous portfolio data.

The BTL hub can automate key criteria variables and send summary reports automatically to the underwriters, allowing lenders to assess individual applications quickly and efficiently.

The PRA’s new portfolio landlord underwriting standards come into force from 1st October.

Adrian Moloney, sales director at OneSavings Bank, said: “As a specialist lender, this sort of bespoke underwriting is in our DNA, so it will be business as usual for us come October.

“Nevertheless, brokers are our business, and we know they are soon going to be hit with a greater administrative burden, so we want to do all we can to make the transition as smooth as possible.

“In just a couple of months, the buy-to-let market will take yet another step towards greater specialisation, and I hope this tech-driven solution will quickly become the gold standard for brokers coming to terms with the new rules.”

Mark Blackwell, lending and surveying services director of eTech, added: “We are delighted to be working with OSB to deliver the industry standard buy-to-let hub.

“We have worked collaboratively to provide a solution that supports brokers and landlords and helps make OSB easy to deal with in a market becoming ever more specialist.”

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