UK Property finance platform LendInvest says that it has completed a mortgage offer in just three days. The financing was provided to a couple looking to purchase a home.
For anyone who has pursued a mortgage, three days sounds like a miracle – depending on the documentation required. LendInvest says the borrowers were able to receive a £135,995 mortgage on a two-year fixed rate towards the purchase of the new home. A broker submitted the application, which was processed by LendInvest technology.
LendInvest reports that its underwriters were able to quickly complete the deal. Sophie Mitchell-Charman, Commercial Director at LendInvest, said the mortgage is a perfect example of what they are trying to accomplish with our residential mortgage service; providing customers a service where other lenders fall short.
“This is just one example of the speed of our residential mortgage range, with the same underwriter having different examples of offers delivered in just 7 or 9 working days. What stands out about this particular mortgage application is how we took each income source as part of our affordability calculation and were comfortable in their ability to pay their mortgage.”
She added that this is what other lenders should be doing – but unfortunately, they are not.