LendInvest launches automatic DIPs for residential deals

LendInvest has launched automatic decisions in principle (DIP) in its latest platform update, speeding up the application process for its residential mortgage range.

The automated DIP process means that cases that meet certain criteria on application, will be automatically accepted instead of requiring an underwriter to review the initial application.

These instant decisions will be applicable for Tier 0 and Tier 1 mortgage applications.

The residential mortgage product is designed to serve borrowers with multiple sources of income, the self-employed and small-business owners, with a bespoke product set to support key workers.

Esther Morley (pictured), MD for residential homeowner at LendInvest, said: “By launching automatic decisions in principle, we’re not only expediting mortgage applications, but also championing unparalleled benefit for both brokers and borrowers.

“Speeding up the application process is high priority for the team, and we’re excited to be announcing further platform developments in the coming months.”