Paragon Bank has launched its buy-to-let mortgage origination platform across the market, aiming to provide a faster, more efficient application process for brokers.
The rollout follows a phased introduction that began in January.
The platform offers tailored application requirements, real-time updates, and improved processing speed through integration with data sources like Companies House and Experian.
Louisa Sedgwick (pictured), managing director of mortgages at Paragon, said: “Today is a big day for Paragon because the market-wide launch of our new mortgage application platform represents a leap forward in our company’s digitalisation journey.
“It follows more than two years of behind-the-scenes work, but completely changes the application experience, so I’m confident that brokers will agree it’s worth the wait.”
Sedgwick added: “The feedback of those who have already been using the system as part of our phased rollout has been fantastic, and we have taken on board that feedback to further enhance the offering.
“As well as Paragon colleagues who have put blood, sweat and tears into this project, I want to thank the brokers who have helped to shape the system, they’ve been absolutely crucial.”
Andrew Smart, strategic transformation manager at Paragon Bank, said: “A phrase we’ve used a lot when talking about this project is ‘making life easier’ for brokers because, as simple as that sounds, that is what we’ve set out to do.
“The complex lending we specialise in can lead to a complex, multi-layered application process, which can be time-consuming for brokers.”
Smart added: “Working with brokers throughout the project, we’ve identified and addressed this, stripping back those layers.
“Identifying the different aspects of a gold standard mortgage application has helped us to hone in on what matters most to brokers, and the result is a platform that provides more certainty, transparency and speed.”
David Tonks, director at Advocate Finance, said: “The whole process runs much more smoothly, and valuation reports are available to download as soon as received, saving time.
“It pulls limited company data through to the application, which also speeds things up, and uploading the document requirements is a much easier process.”
