Norwich and Peterborough (N&P) has signed up to Mortgage Brain's common trading platform, alongside ...
Norwich and Peterborough (N&P) has signed up to Mortgage Brain's common trading platform, alongside Halifax, Nationwide and Alliance & Leicester who are already onboard.
The platform means providers will be able to accept mortgage applications electronically, potentially cutting the traditional transmission time from days to minutes.
N&P's involvement takes Mortgage Brain's aim a step closer towards providing an industry standard trading platform, which all lenders and intermediaries can use.
A spokesman for Mortgage Brain said its development team should have the first pilot for Halifax, Nationwide and Alliance & Leicester operational by early August with N&P following closely behind.
Mike Green, sales and managing director of Mortgage Brain, commented: "This announcement should only strengthen our previous message that the platform will remain independent and that we are encouraging all lenders to partake in the future of electronic trading."
Stephen Mulley, N&P's mortgage project development manager, said: "Once developed fully, this facility will improve our underwriting service and provide real benefit to our intermediaries and their clients."
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