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.

UTB Unveils New Bridging Portal for Brokers

United Trust Bank (UTB) has launched a new bridging portal aimed at providing brokers with a faster route to decisions in principle (DIPs) and completions. The system has been developed throughout the year and integrates with UTB’s existing broker portal for mortgages, buy-to-let (BTL), and second charge loans.

The new portal allows brokers to generate indicative terms and ESIS documents at any time, 24 hours a day, seven days a week. According to UTB, the process eliminates the need for paper application forms or wet signatures once information is entered into the system.

UTB stated that the portal includes free HomeTrack automated valuation models (AVMs), automatic credit checks via Equifax, and director background checks for Know Your Customer (KYC) requirements. The bank also noted that the portal will support the introduction of automated underwriting later in the year.

For letting agents and inventory clerks, the integration of AVMs and digital KYC checks may streamline the property finance process, potentially reducing delays in transactions involving bridging loans. The move to a fully digital application process could also improve efficiency for those managing property portfolios or facilitating property transactions.