Mortgage fintech Instamo has launched a new submission tool aimed at reducing friction in the mortgage application process, supported by fresh investment from L&C Mortgages and early-stage venture capital firm Haatch.
Instamo said its new FastSubmit solution is designed to simplify how brokers submit mortgage applications by removing the need for manual rekeying and reducing delays for both brokers and lenders.
The business also confirmed new investment from L&C Mortgages and Haatch, which will support the rollout of FastSubmit and fund the next stage of Instamo’s development.
FastSubmit is built to mirror the fast-checkout experience seen in e-commerce. It automates the submission of mortgage applications by mapping structured data directly into lender portals, removing the need for brokers to manually key information into multiple systems.
Instamo said the technology is designed to work with lenders’ existing infrastructure rather than replace it. Applications are submitted within lender-native portals, triggering the same validations, rules and verification steps that would apply if the case had been keyed by hand.
Freddie Savundra, founder of Instamo, said: “For years, the industry has promised one-click mortgage submissions, but the reality has fallen short.
“Despite significant investment in APIs, adoption has been limited by inconsistent broker experiences and complex CRM field mapping. L&C’s backing reflects a shared belief that it’s time for a more practical approach.
“FastSubmit works with lenders as they are today, automating submissions directly through existing lender portals or APIs and completing applications exactly as a broker would.”
Mark Harrington, chief executive officer at L&C Mortgages, added: “Although there have been many developments made to speed up and improve the mortgage application process in recent years, the solutions have all too often fallen short of providing a simple, market wide solution.
“We have been impressed with the approach of Instamo FastSubmit and the potential to improve efficiency for our colleagues when submitting mortgage applications and enhance accuracy by limiting rekeying errors.
“The simple, maintenance free implementation works not only for us as a broker but also offers significant opportunity for lenders right across the market.”
Fred Soneya, co-founder and general partner at Haatch, said: “At Haatch, we’re backing founders who are transforming how financial services are built and delivered.
“Freddie and the Instamo team are tackling a major pain point in the mortgage process with real technical rigor, and the momentum they’ve built so far is impressive. We’re excited to support their next phase of growth and help reshape the UK mortgage market.”
