Target Group has announced the launch of a new “state-of-the-art” mortgage originations system.

Having developed the system for over two years, the group suggested its Mortgage Hub said it is set to “revolutionise” the way that lenders and brokers place a mortgage.

Target Group provides business process servicing and operational transformation for over 50 financial institutions, and its fintech platform manages assets in excess of £25bn, enabling clients to automate complex critical processing, servicing and administration of loans, as well as investments and insurance.

For its new mortgage originations system, Target Group said it has been built to be “user-centric rather than product-centric”. The lender and broker will get a single view of what is happening on every case so both know exactly what is happening at any given time without the need for extra emails, phone calls, notifications or chasing.

The system was developed this way following months of research which involved the group speaking to brokers, lenders, conveyancers, surveyors, and borrowers. It carried out workshops and in-depth user testing, taking on-board what the users in the mortgage application journey wanted, and built the Mortgage Hub based on this.

“We thought carefully about the design of the Mortgage Hub to make it as easy to use as possible,” said managing director at Target Group, Katie Pender.

“It has been a long time in development and pilot in order to ensure that it is as close as possible to what people throughout the mortgage industry say they need to make their lives easier. This means the process is now simpler and quicker for borrowers and all involved.

“Because we know that things don’t stand still, we have also built in the ability to update the Mortgage Hub at speed, so we can be highly responsive to lenders’ changing needs. This also means we can update it quickly as the economic environment changes.

“There have been so many sudden changes in our market in the past few years with the pandemic, stamp duty holidays and the fallout from the Liz Truss budget. We wanted to be able to respond to any other potential future events instantly and with the Mortgage Hub we can.

“Our key goal is to change the way customers feel for the better, be that lenders, brokers, conveyancers or the end borrower.”

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