Nationwide Building Society has partnered with Iress, becoming the first lender to use its direct Decision-in-Principle (DIP) process through its Lender Connect programme.
This new process will enable brokers to apply for Nationwide products and receive a DIP directly through Xplan Mortgage, removing the need to re-key information into Nationwide’s online broker portal.
Customer details are captured in Xplan Mortgage and, using API technology, these details are sent to Nationwide to seamlessly return a decision and produce the DIP Certificate.
The adviser can then click through to Nationwide to continue with the application.
In addition to receiving a DIP decision and certificate, an assessment of the property valuation and eligibility will be carried out if property details are provided.
This, together with at least 95% of data being pre-populated into Nationwide’s broker portal, NFI Online, means the application can be submitted with a single click, removing rekeying errors and vastly speeding up the process.
Dave Miller Iress’s executive general manager, sourcing, said: “Working with Nationwide supports our goal of providing our clients with access to the widest possible range of mortgage products, while reducing the friction associated with applying for them.
“The direct DIP process means that lending decisions can be reached faster, with fewer manual steps and fewer errors, all meaning that brokers can provide a more efficient, valuable service to their customers.”
Andy Tilsley, Nationwide Building Society’s intermediary digital relationships lead, added: “We continue to demonstrate commitment to digitise the mortgage journey to improve our offering to brokers and their clients.
“I’m delighted for the opportunity to work with Iress and be the first lender to offer the direct DIP service. This proposition aims to build on both simplicity and efficiency enabling brokers to progress Decision-in-Principles faster than ever before.
“We greatly look forward to continuing work with Iress to further improve the services we offer brokers.”
