Loughborough Building Society unveils new mortgage origination platform

23 January 2025

Loughborough Building Society has unveiled its new mortgage origination platform and integrated credit decisioning software.

The Loughborough has invested in a proven, intuitive and agile mortgage origination platform which automates many key aspects of the application process. It enhances the intermediary and client experience by delivering a simpler, more efficient user journey, while still preserving the benefits and flexibility of The Loughborough’s personalised underwriting approach. Included within this launch are integrated aspects of an autonomous credit decisioning engine to help speed up the application process.

Its introduction allows The Loughborough to offer access to mainstream and specialist mortgage products in a far more attainable form. This includes product areas such as residential, lending in retirement, shared ownership, buy-to-let, holiday let, discount market value, 100% lending, JBSP, adverse lending, right to buy, and right to acquire.

The platform's decision engine is designed to quickly adapt to policy and proposition changes, ensuring the Society can consistently meet the evolving needs of its customers. Initial improvements include soft credit checks during the Decision in Principle (DIP) stage, helping to protect applicants' credit scores while allowing them to explore mortgage options. Additionally, the platform features enhanced case tracking functionality and secure integration with selected solicitor panels.

This development involved collaboration across multiple departments, including the intermediary sales team, direct sales team, underwriting team, product development, marketing, and finance teams. Each team played a crucial role in ensuring that the system meets the unique needs of brokers, supports product development, simplifies the user journey, and aligns with regulatory requirements.

Ashley Pearson, Head of Intermediaries at Loughborough Building Society, commented:

"The launch of our new platform marks a significant step forward in our commitment to simplifying the mortgage journey for both intermediary partners and the end customer. By seamlessly blending the efficiency of automation with personalised underwriting, we are ensuring that a broader range of specialist mortgage products are more accessible than ever before.

“This platform not only enhances the application process but also reinforces our dedication to evolving with the needs of our customers, and the market, as we look to further extend our lending volumes and market share across the specialist sectors."