Mortgage Strategy – BuildLoan launches self-build sourcing and application portal

BuildLoan has launched a sourcing system and application platform to help brokers advise clients self-build mortgages.

The new Unicus portal takes brokers through the whole process from product and criteria sourcing and submitting the application through to tracking the progress of the case and following the stages of the development.

It provides information such as the upfront cashflow requirements and stage payment schedules.

Brokers can also find guidance and training materials on different products as well as the government’s forthcoming Help to Build Equity Loan Scheme.

BuildLoan chief operating officer Julian Foster says: “This type of specialist lending can present significant challenges to clients, brokers and lenders. “Before Unicus, brokers faced substantial obstacles stemming from inaccurate information being provided to them from traditional sourcing systems.

“This, in turn, affected the quality of the information and the product advice they offered to their clients.”

“Unicus is beneficial for everyone involved – the broker, the client, the lender, networks and mortgage clubs and our own staff, as it offers a comprehensive portal with full end-to-end visibility coupled with first-class resources and information.”

Furness Building Society head of intermediary mortgages Alasdair McDonald says: “BuildLoan’s Unicus platform is a major innovation in the way self and custom builders’ finance needs are matched to lenders’ products and criteria.

“Unicus simplifies the application and funds release processes for lenders, intermediaries and clients.

“The launch of Unicus by BuildLoan comes at a pivotal time for the self and custom build sector, which is expected to grow significantly with the backing of various government initiatives including Help to Build.”

Darlington Building Society chief customer officer Darren Ditchburn says: “Self and custom build finance can be seen as complex, and BuildLoan’s Unicus platform is an excellent example of innovation taking place in the sector to simplify the process.

“It provides intermediaries with a unique lender match process based on the client’s proposed project and providing lenders, intermediaries and clients with a seamless application, information and support process.

“This comes at a really important time for self-procured housing and Darlington Building Society is committed to supporting the growing demand for finance through a range of exclusive products designed in partnership with BuildLoan.”

Credit: Leah Milner 

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