Step One Finance is to launch an intermediary originations platform intended to simplify second charge mortgage applications and give brokers an earlier indication of whether cases meet its lending criteria.
The Woking-based specialist lender said the platform represented a significant investment in its intermediary proposition and had been developed in response to broker feedback.
It is intended to reduce administration and improve transparency from the initial quote through to completion.
The system will use credit reference agency data to streamline applications and will provide electronic identification, e-sign-enabled documentation across all products and self-service administration of broker accounts.
Brokers will also have greater flexibility as applications progress.
A free automated property valuation will be provided at the Quick Quote stage for security in England and Wales. The valuation will appear alongside an instant lending decision, allowing brokers to assess whether a case is likely to satisfy Step One’s criteria before completing a full application.
Agnieszka Jouille, director of operations and strategy, said: “This investment is a key part of our long-term strategy to enhance the experience of working with Step One while continuing to strengthen our operational capabilities.
“By delivering a more streamlined and intuitive origination journey, we are reducing friction for brokers, enhancing customer experience.
“The platform has also been designed to support consistent decision-making, improve the quality of information captured and strengthen governance through the application process.
“This not only help us deliver better outcomes for customers and intermediaries but also supports greater consistency, transparency and alignment with our regulatory responsibilities.”
Neil Molyneux, director of sales at Step One Finance, added: “Every enhancement has been designed to make it easier for brokers to do business with us. We’ve reduced administration, improved transparency throughout the application journey and introduced a free automated property valuation at Quick Quote, giving intermediaries greater confidence that a case fits our lending criteria before they invest time completing a full application.”
The platform will remove the requirement for signed application documents before submission. Instead, documentation will be issued with the offer pack, which Step One said would reduce administration and help cases progress more quickly.
The lender said its lending approach would remain unchanged. Brokers will continue to have direct access to experienced decision-makers while using the new system to place business.
Step One will introduce the platform to intermediary partners over the coming weeks, accompanied by onboarding and training.
