Target Group’s recent upgrade to their Mortgage Hub platform introduces a split screen interface aimed at enhancing efficiency for lenders.
- Atom bank reports a 10% increase in Near Prime applications for Q3, setting a new record.
- Following the Autumn Budget, a surge of 84,000 homes have entered the market, according to Yopa.
- Nationwide and Virgin Money have made notable changes to their mortgage rates and product offerings, impacting borrowers.
- Target Group’s upgrade improves access to critical mortgage data, streamlining underwriter and case manager tasks.
Target Group has introduced a new split screen interface for its Mortgage Hub platform which seeks to streamline the mortgage process for lenders. This update is designed to enhance the operational efficiency by providing mandated users and team members with the ability to access essential case information in a consolidated view. It combines applicant details, case specifics, and property information all on a single screen, alongside a workspace dedicated to actions and decision-making.
This enhancement allows underwriters and case managers to view all the necessary data without the need to toggle between multiple tabs or rely on printed documents, thus expediting the mortgage application process. According to Melanie Spencer, the sales and growth lead at Target, this upgrade signifies the company’s commitment to improving the experience of colleagues involved in the mortgage market, underscoring their vital role in risk mitigation and adherence to service level agreements.
Moreover, Spencer highlighted the pressing need for this development across the lending sector, reflecting the demands from lenders nationwide. The introduction of the Colleague UI within their state-of-the-art Mortgage Hub platform is seen as a transformative step in modernising the mortgage process, benefiting all parties involved. The ease of having information readily accessible is a significant step forward in enhancing task completion and decision accuracy in mortgage management.
This update comes amidst broader shifts in the mortgage industry, with Atom bank reporting a 10% increase in Near Prime applications in the third quarter, indicating robust activity in the lending market. Furthermore, Yopa has reported a substantial increase in housing inventory following recent budget announcements, evidencing dynamic changes in the housing sector. Changes in fixed mortgage rates and product availability from major lenders such as Nationwide and Virgin Money also reflect ongoing adjustments within the mortgage finance landscape.
The latest upgrade to Target Group’s Mortgage Hub marks a significant improvement in process efficiency for lenders.
