Mortgage Brain’s next generation lender gateway, Lendex, will now be used as a digital mortgage transaction tool by nine major lenders.
Lendex, announced last month at Mortgage Brain’s ‘strategy forums’, is a brand-new online gateway which provides direct access to lenders. It aims to secure decisions in principle (DIPs) direct from lenders in less than 30 seconds and aims to provide a modern process to digitally complete, submit, administer and track full mortgage applications.
Open to all lenders regardless of size, Lendex’s goal is to deliver real and tangible benefits to all. Detailed discussions are also progressing with a further 11 lenders, with more to be confirmed at a later date.
Mortgage Brain will also offer application programming interfaces (APIs) to the wider market on behalf of participating lenders via Lendex, with an aim to offer a quick, secure and affordable alternative to lenders building their own APIs.
Seven of the initial nine lenders who have agreed to accept digital applications via the gateway are: Accord Mortgages, Barclays, Coventry for Intermediaries, Furness Building Society, NatWest, Nationwide and The Mortgage Works.
Mark Loftouse, chief executive officer of Mortgage Brain, described the commitment and support received since the announcement and launch of Lendex as fantastic.
“There is a real air of excitement about the gateway’s capabilities and the obvious benefits it will bring to the adviser and lender community,” he added.
“Lendex has been wholeheartedly embraced by the mortgage industry and we are delighted to confirm the first wave of lenders to go live on the new platform.”