Landbay choses BEP Systems to develop an online application process and underwriting platform

Buy-to-let lending specialist Landbay has chosen BEP Systems (now known as finova) to develop an online application process and underwriting platform.

Both the mortgage application and the underwriting platforms are based on BEP’s cloud-based, modular Apprivo2 system and will enable Landbay to rapidly expand its service to more brokers and borrowers in the buy-to-let sector.

Some of the key features include the ability to analyse property portfolios by allowing detailed analysis of total rental cover and existing mortgage risk.

Information and documents can be submitted via mobiles and tablets along with an e-signature for mortgage applications.

The system can manage the decision in principle and full mortgage application plus capture of fees.

Brokers are also able to track the progress of each case.

With offices in Manchester and London, BEP Systems works with a range of fintech companies to provide back office and customer-facing financial software system solutions.

Landbay is a fast-growing fintech company that provides alternative investments, driven by peer‐to‐peer lending and backed by British property. All loans are secured by first‐ranking mortgages over tenanted residential properties across England and Wales.

Chris Little, Managing Director of BEP Systems, said:  

“The BEP lending portal for Landbay is a powerful platform that will empower Landbay to rapidly roll out its products to the broker market and to match its lending community with property assets.

“It provides an easy-to-use, borrower-friendly front end, with a fully compliant, intuitive underwriter back end.”

Paul Clampin, Chief Lending Officer at Landbay, said:  

“The BEP system will continue to support the growth of our business and provide a secure and intuitive platform to interact with our broker network.

“It is a cost and time-effective underwriting system for our lending team and is the one of many steps we are taking to streamline our mortgage application process.”