Paragon unveils new BTL mortgage platform for brokers

Paragon unveils new BTL mortgage platform for brokers

0:06 AM, 28th January 2025, About 2 days ago

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Paragon Bank has launched a new buy to let mortgage platform designed to streamline the application process for brokers.

Developed in collaboration with intermediaries over two years, the platform utilises AI and seamless data integration to deliver faster, more certain and transparent outcomes.

The key features include:

  • Certainty: An intelligent system tailors application requirements to individual circumstances, resulting in quicker decisions in principle
  • Transparency: Brokers receive real-time updates on application progress
  • Speed: Efficient processing and data access minimize application-to-offer times.

New mortgage originations platform

The lender’s managing director of mortgages, Louisa Sedgwick, said: “The launch of our new mortgage originations platform is fantastic news for us and our broker partners because it will transform how we work together.

“Delivering a faster, smarter and more flexible experience, we’re really excited to share it with the market after spending two years developing it with lots of input from intermediaries.”

She added: “We have been blown away by the feedback we have received during the test phase and our broker partners report that it is far quicker and simpler to submit their clients’ applications than our previous system.

“It also gives us greater capacity, increasing the level of business we can process and enabling our team to focus on delivering an even better service to our partners.”

Integrates data from various sources

The platform integrates data from various sources, including Companies House, Experian and Hometrack, to pre-populate applications.

AI assists underwriters by extracting, analysing, and validating information.

Brokers can upload property schedules, which are stored for future applications.

Paragon says its platform will be phased in over the first quarter of 2024, with a full market launch expected by the end of March.

For assistance with any type of buy to let (BTL), property or commercial finance please complete the contact form below:

Contact Brooklands Commercial Finance

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