PropertyPal Mortgages, the mortgage arm of Northern Ireland’s leading property portal, has teamed up with eKeeper to launch its own mortgage pre-approval software which will significantly speed up the initial stages of the mortgage application process.
In a way never done before, PropertyPal Mortgages has been able to incorporate technology from both eKeeper and Experian. eKeeper launched integrated Anti-Money Laundering (AML) and consumer credit reports, both powered by Experian, into its broker CRM in March of this year.
Within minutes PropertyPal Mortgages can now complete an ID Check, Credit Check, Affordability and Eligibility Checks across multiple lenders. With the added benefit of only leaving a soft footprint on the credit check, the outcome is essentially a multi-lender indication of acceptance.
PropertyPal Mortgages managing director, Owen Peden, explains why they built this software, “We wanted to build software that would allow users to accurately establish how much they could borrow and at what Loan to Value band they will likely be accepted for a mortgage.
Now we can essentially obtain a very accurate indication of pre-approval across multiple lenders within minutes.
“This information is invaluable to help the user establish a suitable price range and indicate the deposit required to meet the lender’s scorecard requirements. This also means that, with the user’s consent, when submitting a property enquiry, we can indicate to the selling agent that the user has been pre-approved for a mortgage relative to the price of the property they are enquiring about.”
David Bennett, commercial director at eKeeper group added, “We are thrilled to have developed and delivered this solution for PropertyPal. Their approach of blending different technologies into one digital experience demonstrates how modern mortgage brokers are approaching the challenges and demands of attracting, qualifying and servicing customers online. PropertyPal is an existing eKeeper customer, so this project along with the integration into the eKeeper platform reflects our pedigree and our desire to support both new and existing innovative and digitally focused customers.”
Lisa Fretwell, managing director of Data Services at Experian, said, “By using Experian’s solution, brokers have the information they need at the touch of a button, providing them withvaluable time to find the best mortgage deals for their customers.
“As well as significantly improving the speed brokers can confirm eligibility, these checks will also help to safeguard people by ensuring they can access affordable products. This is particularly important at a time when finances may be stretched due to Covid-19.
“We’re delighted to be working with PropertyPal Mortgages and eKeeper on what is an exciting development in the mortgage application process.”