Monmouthshire expands broker access to new loans origination system

Monmouthshire Building Society has added a new tranche of brokers to its loans origination software pilot, as well as increasing product availability ahead of a whole-of-market launch scheduled for autumn.

Last month, the Society launched a pilot of MQube’s Origo platform with three selected brokers – L&C Mortgages, Elite Independent Mortgages and MPI.

This pilot has now been extended to include Lima Money, Watson & Co, Remoo, Mortgage Advice Bureau, Mortgage Style, Mike Powell Mortgages and MP Financial Services (Wales) for its residential products.

Results from the pilot so far have showed faster turnaround times for applications, with some taking less than 24 hours from application to offer for brokers using the new system.

Bethan Jenkins, mortgage transformation lead at Monmouthshire Building Society, said: “We are really pleased that we have been able to open up the pilot to even more brokers, so they can see themselves the improvements we have made to our mortgage application journey.

“We are constantly tweaking the system to ensure that it’s functioning in the way our intermediary partners are expecting and wanting it to work and hopefully, by the time we are ready to open it up to the whole of the mortgage market, it will be at peak performance.”