Proptech platform LendInvest notes that its founders began operations in response to a UK mortgage market that’s “fundamentally broken.”
The LendInvest team points out that for many years, it’s been a market mostly dominated by banking institutions, and acquiring a mortgage can be one of the worst consumer experiences in “the whole of financial services.” With a regular lender, this process can be quite cumbersome as it typically requires a lot of time-consuming paperwork that’s processed mostly offline, LendInvest explains.
According to the property finance platform’s blog post, the solution to this problem has been clear: to launch a new property finance platform, one that provides clients “the speed, simplicity and certainty that they want.” As noted by LendInvst, this improved platform aims to “make property finance simple, by digitizing mortgages delivering a better customer experience and driving operational efficiency for us.”
LendInvest further notes that technology is at “the heart of everything” they do at the company. This past year has shown them “more than ever how integral it is to build a sustainable property finance platform that can weather a crisis, and most importantly, provide our borrowers and investors with the security they need.”
LendInvest Chief Operating Officer, Arman Tahmassebi notes that they’ve developed a “highly scalable” platform that brings to market a new proposition for their clients.
Tahmassebi adds that for platform borrowers, LendInvest offers a complete, end-to-end digital marketplace. This new solution does not have to deal with the legacy issues that negatively affect the operations of traditional lenders.
For lenders, the LendInvest platform offers a “frictionless opportunity” to gain access to real estate as an asset class, Tahmassebi noted while adding that this is done in a more simple way than was possible before.
From application to completion, LendInvest clients are able to easily submit and manage their cases using their online origination platform Genesis, Tahmassebi added.
Within Genesis, brokers can easily review and manage all of their current applications while accessing a live dashboard that accurately reflects the status of their cases, Tahmassebi explained.
Tahmassebi further noted that the entire process has been fully automated thanks to several strategic partnerships with technology specialists. With the help of the latest tech, LendInvest is able to address KYC requirements, while leveraging the most advanced tools to streamline the underwriting process, Tahmassebi explained.
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