United Trust Bank (UTB) has announced the launch of a new online Decision in Principle (DiP) and automatic-underwriting system, to provide brokers with point of sale decisioning available for 24 hours a day.

The system will enable brokers to receive a real-time pass, refer or decline decision following the completion of a quick application process.

If the product requested does not fit UTB’s criteria, the system will provide alternative products more suited to the applicants’ circumstances. The online DIP is integrated with credit search and automated valuation model providers all to provide a binding 30-day decision.

UTB’s automatic-underwriting system supports the online DIP decisioning and takes every factor of the applicant’s circumstances into account to provide a response tailored to each individual scenario. The new enhancements, combined with the recently launched document upload functionality, are expected to improve turnaround times and increase broker conversions.

The lender also stated that it is aiming to provide residential mortgages and second charge loans to customers with more complex circumstances, credit histories or requirements which often “don’t fit the strict criteria” of mainstream lenders.

UTB director – mortgages, Buster Tolfree, said: “There’s a lot of activity in the mortgage market but brokers aren’t necessarily getting the speedy service from lenders they deserve, especially with their more difficult to place cases.

“These latest process enhancements will enable brokers to quickly obtain a DIP, be referred to a specialist underwriter for further help or get a swift decline, 24 hours a day, seven days a week and our Auto-underwrite system should help accepted cases fly through to a quick full mortgage offer.”

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