Kensington has moved to paperless application processing as part of a wider shake-up aimed at making it easier for intermediaries to place cases.
The overhaul will include changes to policies on lending to older customers, buy-to-let landlords and self-employed income verification.
Intermediaries will now be able to scan and upload all documents directly onto the lender’s online portal, helping to streamline mortgage applications by cutting out postal delivery times.
Kensington has also revised its requirements buy-to-let applicants, with clearer definitions to help intermediaries.
Applicants must now be an existing residential homeowner for the past 12 months, unless they have owned four or more buy-to-let properties for longer than 12 months.
It will also set a minimum income requirement for applicants who do not currently own a buy-to-let property.
Kensington has clarified its income requirements for older borrowers.
It will still lend up to age 75 at the end of the term and where a customer is borrowing beyond the age of 70 or their anticipated retirement age, whichever is the earliest. But they must show evidence of future retirement income.
The maximum application age for customers who wish to borrow beyond 70 or their anticipated retirement age is 55.
For self-employed customers who choose to support their application with verified accounts, Kensington has expanded the number of accountants and bookkeeping professional bodies from which it can consider verification.
It now accepts eight professional bodies, including the Institute of Financial Accountants, Association of Authorised Public Accountants and Association of Chartered Certified Accountants.
Steve Griffiths, head of sales and distribution at Kensington, said: “Placing a complex mortgage application doesn’t have to be complicated. We work hard to make our policy and process as easy as possible for our intermediaries."
“It is now possible for a broker to submit a full application to Kensington without going near a post box.”