Mortgage processing

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High street lenders cut mortgage processing time by 30%

The 2024 Mortgage Efficiency Survey, an annual report published by finova and MSO, revealed major improvements in mortgage processing times - high-street lenders have reduced their average application processing time by 30%, from 14 days in 2022 to just 10 days this year.

/retail

IndoStar Capital Finance announces sale of IndoStar Home Finance to EQT

IndoStar Capital Finance Limited (IndoStar) today announced that its Board has approved the sale of its subsidiary, IndoStar Home Finance Private Limited (IHFPL) to WITKOPEEND B.V., an affiliate of BPEA EQT Mid-Market Growth Partnership (“EQT”), a global private equity investor, for INR 1,750 crore on a fully diluted basis.

/retail

OPDA launches new research into home buying

A new research project launched this month is set to discover what buyers think should be done to improve homebuying in the UK.

/retail

Santander rolls out Edge Home to all brokers

Santander UK has rolled out its online service, Edge Home, to all brokers, following a successful pilot earlier in the year, to help make the mortgage journey easier to navigate for brokers and their customers.

/markets

Capital markets technology provider Polly raises $25 million

Polly, the leading provider of innovative mortgage capital markets technology and operator of the industry's first cloud-native, commercially scalable product and pricing engine (PPE), today announced $25M in new growth equity capital.

/wholesale

LendInvest signs £1.5 billion funding agreement with JPMorgan

LendInvest plc (AIM: LINV) ("LendInvest" or the "Company"), the UK's leading platform for mortgages, announces that it has extended its existing Separate Account with JP Morgan by an additional £500 million to £1.5 billion.

/retail

ICE upgrades digital mortgage lending platform

Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced several new enhancements to the Encompass digital mortgage lending platform.

/retail

Selina Finance picks Phoebus mortgage processing platform

Phoebus has secured a five-year mortgage servicing contract with second charge lender Selina Finance.

/retail

ColCap acquires digital mortgage lender Molo

ColCap Financial Limited has acquired the remaining 20% of shares in Molo Tech Limited. The digital mortgage lender is which is now a wholly owned subsidiary of ColCap.

/retail

Yorkshire Building Society to offer an online learning programme for first-time property buyers

Yorkshire Building Society has partnered with financial education provider, Doshi, to offer would-be homeowners an online learning programme designed to guide them through the process of applying for a mortgage and buying a home.

/wholesale

Iress sells UK mortgage business

Iress (IRE: ASX) today announces it has completed the sale of its UK Mortgage Sales & Originations (“Mortgages”) business to Bain Capital Tech Opportunities LP (“Bain Capital”).

/retail

Berlin-based PropTech Myne raises €40 million in equity and debt financing

Europe's leading managed co-ownership provider for premium vacation homes, MYNE, today announced the completion of its €40 million Series A funding round in equity and debt financing.

/people

Target appoints Rob Hanks as product manager

Leading originations expert, Rob Hanks, has joined Target Group as product manager, the latest in a wave of key specialists appointed to form its Originations team.

/retail

Latest property data trust framework helps digitise conveyancing

The Open Property Data Association (OPDA) has released the newest version of its property data trust framework which, among other benefits, will help key conveyancing information to be provided digitally. It will be easier for consumers to view a comparable list of conveyancer quotes, bringing greater choice to the market.

/payments

OMS to implement Instant Bank Pay from GoCardless

Bank payment company GoCardless has announced a partnership with OMS, the seamless single-input enquiry to completion processing platform for brokers, to simplify and accelerate the payment process for its ever-growing user base.

/retail

Koodoo to utilise Smoove eConveyancer platform

Koodoo, an innovative mortgage technology provider with an in-house mortgage brokerage, is excited to announce a new partnership with Smoove, utilising its eConveyancer platform.

/retail

Islamic fintech firm Offa introduces buy-to-let finance service

Offa, the UK’s first Sharia-compliant bridge finance fintech, has today launched an innovative new buy-to-let finance (BTL) service – with fast funding decisions delivered via a modern paperless process – aiming to disrupt and transform the traditionally old-fashioned and cumbersome world of Islamic finance.

/cloud

Atom Bank extends IRess MSO software deal

Iress and Atom bank today announce that they have signed a new five-year contract for Iress’s MSO software, to be provided as a cloud-based managed service.

/people

Habito establishes protections department with six new hires

Fintech digital mortgage broker Habito, who recently introduced a specialist team, is now further expanding its operations with the establishment of a dedicated protection department.

/retail

Canada’s Haventree Bank selects Temenos

Temenos (SIX: TEMN), the banking software company, today announced that Haventree Bank, a federally regulated Schedule 1 bank in Canada, has selected Temenos to support its digital transformation and business growth.

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