Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Brokers Call for More Mortgage Tech as AI Use Divides Sector

A recent survey by Nottingham Building Society has found that 89% of mortgage brokers want technology to play a bigger role in the mortgage process, up from 74% six months ago. While most brokers agree that lenders are already using technology effectively, there is still strong demand for further improvements, particularly in streamlining applications and handling complex cases.

The survey revealed that brokers are looking for systems that reduce friction, improve case visibility, and help lenders assess non-standard affordability models. A third of brokers said that better handling of complex or non-standard cases would have the greatest positive impact. Similar proportions highlighted the need for clearer tracking of case progress (33%), better integration between broker and lender systems (32%), and faster decision in principle outcomes (32%). Nearly a third (32%) also pointed to reducing manual document submission as a key area for improvement, while 31% said more consistent underwriting decisions would be beneficial.

Despite the appetite for more technology, the survey found that brokers remain cautious about the use of artificial intelligence (AI) in lending. One in three brokers said they would be comfortable with greater use of AI or automation in document verification and administration (33%), initial affordability assessments (33%), broker-lender communications (33%), case prioritisation and triage (32%), customer journey updates and tracking (31%), and income and expenditure analysis (31%).

Brokers also identified specific areas where AI could help the market. More than a fifth (22%) said AI could have the biggest positive impact in supporting regulatory and compliance checks. Around a fifth pointed to supporting borrowers with multiple income streams (21%) and better interpretation of income and expenditure (20%).

The survey results come amid reports that AI-created documents could potentially bypass existing security systems, highlighting the need for further improvements in some areas.

Nottingham Building Society has recently launched a new proprietary mortgage platform, Inviting Difference In (IDI), developed with MQube and powered by Origo technology. The platform uses AI-driven underwriting to automate document checks and affordability assessments, aiming to deliver decisions in minutes rather than weeks.

For UK letting agents and inventory clerks, these developments in mortgage technology and AI may influence how quickly and efficiently tenants and landlords can secure mortgage approvals, particularly in cases involving complex income or non-standard applications.