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

Finova to Launch AI Tool for One-Click Mortgage Applications

Finova has announced the upcoming launch of AI-powered software designed to let brokers submit mortgage applications with a single click, eliminating the need to rekey customer information across multiple lender portals. The technology will be available in beta form through Finova’s Broker Hub website from 30 September, with brokers able to register now.

The company stated that its new AI agent will allow brokers to use information captured during the fact find process to apply directly to any lender application portal available in the UK. According to Finova, this approach aims to reduce duplication, minimise human error, and free up advisers to spend more time with customers.

Finova said brokers currently spend around 30 minutes per application entering customer data into lender portals. The new AI agent will collect customer information directly from the broker’s CRM and fact find, then automatically log into lender portals using integrated password management technology to fill in the relevant fields. Any missing information will be flagged to the broker via channels such as WhatsApp or Slack, and the completed application will be returned to the broker for final review and submission.

This development is relevant to UK letting agents and inventory clerks who work closely with brokers and mortgage advisers, as it may streamline the mortgage application process and reduce administrative workload.