The UK-based lender is now able to receive mortgage applications through its online decision tool ‘clickdecision,’ which converts the decision into a full mortgage application, and issue offers within a matter of hours.
This has been made possible thanks to a recently signed agreement with housing data and information company Hometrack to provide Platform with automated valuation model (AVM) technology to facilitate cases up to 75% loan to value (LTV).
Additional work continues to facilitate higher LTV cases, with a view to providing instant online offers by the end of the year.
We are delighted to announce the occasion of our first same day offer using AVM technology and our Click online systems and recognize that this is the first stage in making the same day offer a typical experience for our customers in the near future, commented Paul Hunt, Platform’s head of marketing.
As each day passes, we are building a greater understanding of the technology and want to ensure our eventual instant online offer proposition not only compliments our risk appetite but also matches or exceeds our proven ability to deliver ‘best of breed’ online solutions to our intermediaries, he added.
