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Bluestone Mortgages launches streamlined online broker portal

Bluestone Mortgages launches streamlined online broker portal

Specialist lender Bluestone Mortgages has launched ‘Bluelink’, an online broker portal it claims will enhance its intermediary offering.

The firm said the new features means Bluelink will provide a streamlined and efficient decision-making process for online mortgage applications.

The portal’s interface has been built in-house to give Bluestone complete control over future development and integration with other systems.

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It also uses Google’s design framework to give what the firm said is a “clean and simple” look that users can associate with. This was following feedback from a group of brokers who tested the system.

The tool is also intended to aid complex mortgage applications that fall outside of the lender’s criteria. UK brokers will be able to track how and why some applications are not covered by, or are more complex for, the lender.

Other features on Bluelink enable brokers to jump between sections of the decision in principle and full application, so they can enter information in the order they capture it to save time. A traffic light navigation format will make it easy to see which sections are completed and where information is still needed, the lender added.

Bluestone entered the UK market in October 2015 to cater for people with adverse credit. It announced an overhaul in June that saw the procuration fees it paid out rise to 0.5 per cent from 0.4 per cent.

This coincided with the launch of a series of fixed-rate products and an overhaul of its residential and buy-to-let lines. 

 

Provider view:

David Torpey, managing director, said: “Technology is a key part of our proposition, which is why we had to get it right. We made the decision to develop our broker portal in house to enable us to have more control over functionality and future development.

“We’ve been road testing it with some of our biggest firms because it needs to add value to their businesses, not just ours. Although brokers now have access to an intuitive decision-making portal, we’ll still give them direct access to our underwriters when they need it. 

“Our customers do not fit the traditional high street profile, so it is important that we have a thorough understanding of their situation. Sometimes the best way to do this is to pick up the phone and talk to the person who has authority to make a sensible credit decision.”

 

Adviser view:

Neil Harrison, mortgage broker at Harrison Mortgages, said: “Most of the lenders around tend to have some sort of online [interface]. It is not a new thing. The high street lenders have had them for years.

“With a specialist lender like Bluestone, I would only use the portal if I have already had the conversation.

“[With rejections] from most of the lenders you can generally gauge what the reason is; whether it is based on the affordability, for example.”