Instamo has launched FastSubmit, a new tool to help mortgage brokers submit applications more easily, backed by new investment from Haatch and L&C Mortgages.
FastSubmit is designed to speed up the application process.
It removes the need for manual entry and cuts down on errors.
The system maps application data straight into lender portals, working with lenders’ existing technology.
Instamo said it is like a Firestick plugged into lender portals, automating the process within their current systems.
Freddie Savundra, founder of Instamo, said: “For years, the industry has promised one-click mortgage submissions, but the reality has fallen short.
“Despite significant investment in APIs, adoption has been limited by inconsistent broker experiences and complex CRM field mapping.
“L&C’s backing reflects a shared belief that it’s time for a more practical approach.”
Savundra added: “FastSubmit works with lenders as they are today, automating submissions directly through existing lender portals or APIs and completing applications exactly as a broker would.”
Mark Harrington, CEO at L&C, said: “Although there have been many developments made to speed up and improve the mortgage application process in recent years, the solutions have all too often fallen short of providing a simple, market wide solution.
“We have been impressed with the approach of Instamo FastSubmit and the potential to improve efficiency for our colleagues when submitting mortgage applications and enhance accuracy by limiting rekeying errors.
“The simple, maintenance free implementation works not only for us as a broker but also offers significant opportunity for lenders right across the market.”
Fred Soneya, co-founder general partner at haatch, said: “At Haatch, we’re backing founders who are transforming how financial services are built and delivered.
“Freddie and the Instamo team are tackling a major pain point in the mortgage process with real technical rigor, and the momentum they’ve built so far is impressive.
“We’re excited to support their next phase of growth and help reshape the UK mortgage market.”
