The Intermediary – May 2025 - Flipbook - Page 9
S E C O N D C H A RG E
In focus
Certainty, speed and clarity are no longer ‘nice-
“These APIs enable both real-time quick quotes
to-haves’, but are expected by modern borrowers
and end-to-end full applications, eliminating
and the brokers that serve them.
the need for manual rekeying and reducing time
Stern says: “By streamlining the process
to offer.”
end-to-end, we’re giving brokers faster access
He adds: “For second charge mortgages, where
to the answers they need, without sacrificing
speed can make or break a deal, our technology
the depth or quality of decision-making we’re
ensures that brokers can move quickly without
known for. It’s about removing the friction, not
sacrificing accuracy or compliance.
the thinking.
“This approach has already started delivering
results, as last year we introduced biometric
ID checks and electronic signatures for our
offer documents.
“That one change made a big difference, not just
“Our integrations mean brokers can access a
wide range of lenders in one place, saving time
and improving outcomes.”
Selina Finance’s Broker Portal and APIs also
aim to streamline applications.
Henry Vaughan, VP of growth at Selina Finance,
in turnaround times, but in how we protect both
says: “Our focus has always been on making life
our customers and our business. It tightened our
easier for brokers. We’ve built a smooth, modern
internal controls, strengthened fraud prevention
process that removes unnecessary admin and
and contributed to a noticeable rise in same-day
speeds things up from the start.
application, offer and completion.”
Norton Broker Services has embraced similar
technologies to modernise its approach to
second charge mortgages.
Eddie Lau, broker account manager at Norton
“There’s no need for documents upfront, and
smart APIs work behind the scenes to automate
key steps.
“Credit file checks, valuations and affordability
assessments all happen instantly, which means
Broker Services, explains: “We work with many
brokers can move quicker and get early clarity on
lenders who accept [automated valuation models
each case.”
(AVMs)] even on higher [loan-to-value (LTV)]
cases, allowing for faster and more cost-effective
property assessments.”
By using AVMs instead of physical valuations,
Vaughan adds: “We understand that brokers
have different ways of working.
“That’s why we’ve developed flexible APIs that
allow quotes to be generated directly from a
Norton accelerates underwriting, while
broker’s [customer relationship management
e-signatures for conveyancing documents enable
(CRM) system].
completions in as few as 12 working days, even for
complex cases.
“This cuts out double-keying, reduces errors and
makes the whole process far more efficient.”
Lau says: “The move to digital conveyancing
with e-signatures has been a massive step
Advanced analytics
forward. It’s not just about speed. It’s about
Analytics and machine learning are able to
giving borrowers and brokers a smoother, more
revolutionise risk assessment, enabling bespoke
reliable experience.
rates for diverse borrowers.
“We’ve seen turnaround times drop
significantly, which is critical when clients need
funds urgently.”
Unlike rigid credit score models, these
technologies analyse nuanced data, making
lending inclusive, according to Lau, who
Norton has found that, through partnerships
explains: “Norton partners with lenders that do
with lenders using integrated broker platforms,
not rely solely on automated credit scoring, and
it has often been able to eliminate manual
technology plays a vital role in this.
forms, reducing errors and speeding up
application processing.
“By using such lenders, we can quickly identify
and route applications from borrowers with
adverse credit histories to suitable providers.
Seamless connectivity
“This helps ensure that applicants who may
One Mortgage System (OMS) works hard to
not meet rigid prime lending criteria are still
take a leading role when it comes to “seamless
considered for appropriate lending solutions.”
connectivity,” according to CEO Dale
He adds: “For borrowers burdened by high-
Jannels, integrating more than 14 application
interest credit card debt, Norton’s technology
programming interfaces (APIs) with second
recommends second charge products that offer
charge lenders.
lower interest rates and longer repayment terms.
Jannels says: “OMS has significantly
“Intelligent sourcing tools help match
enhanced the second charge mortgage
applicants with suitable products in real time,
journey by leveraging digital platforms and
allowing borrowers to reduce monthly outgoings
advanced automation.
and restructure debt more sustainably.”
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2025 | The Intermediary
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