Leeds Building Society and L&C Mortgages have teamed up to speed up mortgage applications by using an automated process to access applicants’ recent financial history.
Clients at L&C Mortgages now share their financial records through Experian’s Open Banking platform, instead of collecting and sending bank statements.
This approach has become standard for applications between Leeds and L&C, saving time for brokers and clients.
Leeds Building Society plans to roll out the results of the pilot to more of its intermediary partners.
James O’Reilly, head of intermediary partnerships at Leeds Building Society, said: “This pilot scheme has allowed us to reduce steps in the mortgage application and make life easier for brokers and their clients.
“Through our partnerships with L&C Mortgages and Experian, we have been able to demonstrate how new technology and close collaboration can deliver outcomes that will make meaningful differences to the mortgage journey.
“We are looking forward to taking the learnings from this pilot forward with more of our intermediary partners and expanding our use of automation.”
David Hollingworth, associate director at L&C Mortgages, said: “We’re delighted to have piloted this innovative, new approach from Leeds, which has enjoyed strong take up from our customers.
“The close collaboration between Leeds Building Society and our team has clearly demonstrated that the use of open banking can be integrated seamlessly into the standard process.
“The simple and straightforward approach reduces the amount of documentation required and ultimately speeds things up for both us and the customer.”
Hollingworth added: “We’re always striving to remove pain points and blockers for clients and this kind of timesaving option is bound to be welcomed by a growing number of customers.”
Lucas Lopes, chief product officer, consumer information services & verifications, Experian UK&I, said: “As consumer demand for seamless digital experiences continues to rise, open banking is transforming mortgage applications—replacing manual, time-consuming processes with real time data insights that deliver more tailored, transparent, and inclusive financial solutions.
“This pilot shows the tangible impact of industry collaboration, digital innovation, and enriched data in providing smarter, faster, and fairer decision-making.
“It’s encouraging to see meaningful progress, and we’re eager to build on these early results to bring even greater value to consumers.”
