Paragon has joined forces with eTech to include its web-based workflow management system to streamline and simplify the mortgage application process for portfolio landlords.
The specialist mortgage lender will use the simplified application submission platform provided by the eTech system that enables intermediaries and lenders to meet underwriting standards for landlords with large-scale property portfolios.
Intermediaries who use the eTech system can import landlord data easily from multiple spreadsheets. Data is then verified automatically and converted into a Paragon-specific template prior to submission.
Property details including preliminary valuation information and achievable rent are independently verified using online sources.
Current EPC ratings are also displayed against each property in a portfolio and automatically updated via the EPC register.
Several other lenders are already using the eTech system.
John Heron, managing director of Mortgages, commented: “Technology is set to revolutionise the mortgage industry and this is a perfect example of a web-based application being deployed to streamline a complex process.
“The new PRA standards rightly call for comprehensive underwriting of portfolio landlords but this can make the application process cumbersome and slow.
“The eTech system provides a single data entry point for intermediaries and lenders, as well as online verification of key information, taking away the need for multiple data input and manual checking.”