Mortgage Brain and Lloyds Banking Group (LBG) have united to execute on the first digital full mortgage application (FMA) for Halifax.
This will enable mortgage brokers to go from sourcing to submission in “one seamless journey”, eliminating the duplication of processes and rekeying of data.
The Halifax FMA will be delivered through Mortgage Brain’s Submissions Brain platform, with features such as automatic data pre-population saving brokers 30 minutes on average for each application.
The Submissions Brain module underwent a revamp in September that included the delivery of the first standardised decision in principle (DIP) form covering all subscribing lenders.
This means those submitting a DIP to Halifax can now progress on to FMA.
Neil Wyatt, sales and marketing director at Mortgage Brain, said: “This partnership is not just defined by what we have delivered for the mortgage industry, which is revolutionary in itself. But it’s also about how we delivered it – through true partnership and collaboration.
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“Mortgage Brain and Lloyds Banking Group have set a new standard for how lenders and technology providers can raise the bar together, delivering real benefits across the industry. In a market where we hear frequently about the need for industry collaboration, we have seized the opportunity and together produced something truly innovative to benefit all – lenders, intermediaries and, most importantly, the end borrower.”
He added: “This partnership goes to prove that with the right governance, collaboration, and shared end goal, industry-wide transformation is truly possible.”
Frances Cassidy (pictured), LBG’s head of strategic and technology partnerships, said: “At Lloyds Banking Group, we are committed to transforming the mortgage experience – making it simpler, faster, and more accurate for brokers and their customers. Launching our first fully digital full mortgage application with Mortgage Brain for Halifax marks a major milestone in that journey.
“By removing duplication and streamlining submissions, we’re enabling brokers to spend more time advising clients, while delivering quicker, more consistent decisions for customers.
“This collaboration reflects our broader ambition to drive innovation across the intermediary market, and demonstrates how strategic partnerships can unlock real value for the entire ecosystem.”
Earlier this week, Mortgage Brain added OSB Group’s new buy-to-let (BTL) brand, Rely, to its Sourcing Brain and Criteria Brain modules.