TMW application forms live on MTE

The Mortgage Works, the specialist lending subsidiary of Nationwide Building Society has made its Decision in Principle (DIP) and Full Mortgage Application (FMA) forms available to all users of the Mortgage Trading Exchange (mte).

The new forms, designed to save brokers both time and money will be automatically pre-populated with client and product information already held on an intermediary’s database. The AIP request or application is integrated directly with the lender’s head office systems, including third party credit scoring, enabling responses to be received in less than a minute, said TMW.

Available on the mte, the new ‘intelligent’ forms are also available on the rest of The Mortgage Work’s product range including buy to let and let to buy.

Larry Banda, managing director at The Mortgage Works, said: “We’re delighted to have made our DIP and FMA forms available on the mte. The platform is a hugely popular channel for mortgage placement in the UK and I am delighted that we can now offer intermediaries a choice of both TMW online and the mte for submitting applications to TMW.”

With over 70 per cent of the UK’s lenders live and its availability to all mortgage intermediaries, the mte is now responsible for processing annualised transactions with an estimated value of over GBP 30 billion worth of mortgages and is now the largest single delivery channel for mortgage placement in the industry.

Mike Davies, head of the Mortgage Trading Exchange, said: “We’ve been working closely with The Mortgage Works on the development of its new forms and we’re delighted to see them live on the platform. The automatic pre-population of client data and sophisticated case tracking capabilities are great time savers and with more and more intermediaries using the mte every day, I’m sure it will help The Mortgage Works further increase its efficiency and business levels.”