BEP Systems has launched a system for lenders to stress test buy-to-let portfolios automatically.

The solution, known as the Portfolio Assessor, has been designed to comply with the PRA guidelines for portfolio landlords which came into effect on 30 September.

The Portfolio Assessor is a new module on BEP’s Apprivo2 system. It has been designed to save lenders from having to manually check every property in a portfolio, in order to grant a single mortgage or remortgage.

It enables lenders to enter criteria that meet their own affordability rules into the system. Brokers or landlords will then be able to upload their portfolio spreadsheet and asset and liability statements to a lender’s system. Once uploaded, the Apprivo2 system will test every property in the portfolio against the lender’s criteria to see if it passes, fails or if the lender needs more information.

Two lenders worked with BEP during the development of the system and have adopted the new Apprivo2 module.

Chris Little, managing director of BEP Systems, said: “This Apprivo2 module, designed for lenders, is completely PRA compliant. Extensive research has been carried out to ensure that it is exactly what lenders need to comply with the new PRA rules as quickly and efficiently as possible.

“This further enriches the Apprivo2 lending system – currently one of the fastest growing secured lending platforms, with three new lenders using the system in the past two months.”