Monmouthshire Building Society has widened the intermediary pilot of its new mortgage origination platform, adding a number of mortgage clubs and networks including Mortgage Advice Bureau.
The society is testing MQube’s Origo platform as part of an overhaul of its mortgage application process, with the latest expansion giving more brokers access ahead of a wider rollout.
Members of Omni Mortgage Club, Brilliant Solutions, Next Intelligence, Paradigm, TMA and PMS have now joined the pilot.
Mortgage Advice Bureau firms and advisers have also been given access, including to residential and buy-to-let products for customers in England and Wales.
SUB-24-HOUR OFFERS
Monmouthshire said early results from the pilot showed that some applications had progressed from submission to mortgage offer in less than 24 hours.
The latest firms join intermediaries already testing the system, including Mortgages, Elite Independent Mortgages and MPI. Lima Money, Watson & Co, Remoo Ltd, Mortgage Style, Mike Powell Mortgages and MP Financial Services (Wales) have also been involved with its residential products.
Bethan Jenkins, mortgage transformation lead at Monmouthshire Building Society, said: “Expanding the pilot to more brokers and networks is an important milestone and allows even more intermediary partners to benefit from the improvements we’ve introduced throughout the mortgage journey.
“Continuous feedback and testing remain central to our approach, and we’re using these insights to fine-tune the system.
“By the time it’s rolled out more widely, we expect it to be delivering the best possible experience for brokers and their clients with more and more products added.”
Philip Daffern, head of lender relations at Omni Mortgage Club, added: “We were thrilled to be part of this pilot, being able to help shape and support Monmouthshire’s launch.
“Feedback from firms has been that they were pleasantly surprised by the quick timescales, hugely welcomed by those looking to conclude business quickly.
“and, we are confident that as client needs become ever more complex, the team at the Monmouthshire will continue to help advisers meet their clients’ needs efficiently and more effectively.”
MAB ACCESS
Sam Toms, lender relationship account manager at Mortgage Advice Bureau, said: “Monmouthshire Building Society has been on our panel for several years, and we’ve been working hard to deepen that relationship.
“Opening the pilot to every MAB firm and adviser has given them early access to pilot-exclusive products and rates, a quicker and smoother application journey, and residential and buy-to-let options for customers across England and Wales.
“Demand for Monmouthshire’s range has been strong, and the pilot has helped us support more customers through a developing digital journey. Our advisers have also been able to share their feedback directly, helping to shape the platform ahead of a wider rollout.
“We’re looking forward to building on this partnership further, so that even more advisers and customers can benefit from what the Society has to offer.”
