Monmouthshire decides to recruit ahead of Autumn launch
Monmouthshire Building Society has expanded the number of brokers taking part in its loans origination software pilot, ahead of its market launch in the autumn.
The company launched a pilot of MQube’s Origo platform with three selected brokers – L&C Mortgages, Elite Independent Mortgages and MPI – last month. The pilot now also includes Lima Money, Watson & Co, Remoo, Mortgage Advice Bureau, Mortgage Style and Mike Powell Mortgages and MP Financial Services (Wales) for its residential products.
Monmouthshire Building Society says the initial results have been encouraging, with data showing quick turnaround times for applications, with some taking less than 24 hours from application to offer.
‘Tweaking the system’
Bethan Jenkins, mortgage transformation lead at Monmouthshire Building Society, said: “We are really pleased that we have been able to open up the pilot to even more brokers, so they can see themselves the improvements we have made to our mortgage application journey.
“We are constantly tweaking the system to ensure that it’s functioning in the way our intermediary partners are expecting and wanting it to work and hopefully, by the time we are ready to open it up to the whole of the mortgage market, it will be at peak performance.”
Sheldon Martin, financial adviser at MPI, said: “Having used the new system as part of the pilot, I’ve been really impressed with how straightforward and user-friendly it is. It’s intuitive, easy to navigate and significantly reduces time spent on administration.
“The integration of credit information helps streamline applications from the outset, creating a smoother and more efficient experience for both brokers and clients. It’s a great example of technology being used to simplify the mortgage journey while maintaining a high level of support throughout.”
