UTB unveils digital bridging platform for brokers

United Trust Bank (UTB) has launched its new bridging portal for brokers, aiming to deliver a slicker and quicker route to decisions, DIPs and completions.

Key features of the new UTB bridging portal include:

·        indicative terms and ESIS documents in minutes at any time, providing brokers with essential 24/7 functionality for out-of-hours client appointments and flexible working

·        no paper application forms or ‘wet’ signatures required once keyed in, overcoming a common cause of processing friction and delays

·        simple case management including easy document upload, information request notifications and underwriter messaging, all designed to keep cases moving quickly and provide a complete record of progress and communications

·        integrated free HomeTrack AVMs enabling quicker DIPs and completions

·        integrated automatic free credit checks via Equifax and director background checks to complete KYC quickly

As well as delivering significant speed and efficiency improvements for brokers and customers, UTB’s investment in the new digital journey will also accelerate or even dispense with time-consuming administration tasks for both brokers and underwriters, freeing up resource and giving them more time to add real value by expediting more complex and urgent cases.

The new portal also paves the way for automated underwriting to be introduced later this year.

UTB expects that a large proportion of bridging applications will receive an instant, and binding, approval or decline via the portal. The remaining cases will be referred to underwriters, reflecting the more complex nature of bridging deals where circumstances, securities and requirements make lending decisions more suited to being made by skilled and knowledgeable credit managers.

Buster Tolfree, managing director of mortgages, BTL & bridging at United Trust Bank (pictured above), said: “This marks an exciting relaunch of bridging at UTB and will help us retain our rightful place as one of the market’s best and busiest bridging lenders.

“We didn’t set out just to improve the old portal; we wanted to replace it completely so that it offers the same class-leading features, usability and control our mortgage brokers, customers and staff have enjoyed for years, while maintaining the all-important lender/broker relationships that are so vital in bridging.

“I’m delighted to say that we’ve done all that and more.

“In addition, we can now implement future enhancements across the whole mortgages, second-charge, BTL and bridging product suite and continue to invest in sophisticated new technology, driving quicker and more successful outcomes for customers and brokers.”