Following a successful pilot with Virgin Money, Twenty7Tec has revealed that all users of the CloudTwenty7 platform will now be able to access the APPLY integration.
During the pilot phase, Mortgage Advice Bureau (MAB) and Connells successfully submitted over 1,000 applications to Virgin Money via APPLY.
The APPLY integration will enable users of the CloudTwenty7 platform to apply for a Decision in Principle (DiP) from Virgin Money, as well as submitting a Full Mortgage Application (FMA).
It will also allow users to receive decisions and case tracking updates from Virgin via APPLY.
As well as this, users will be able to view case notes to confirm the required documents that are needed and fees to be paid to Virgin before conversion to full mortgage application.
Twenty7Tec will be issuing a white paper, which analyses the success of the pilot in more detail.
Nathan Reilly, head of lender relationship at Twenty7Tec, said: “The initial roll out of our APPLY integration with Virgin to both MAB and Connells has been our most successful pilot to date, and we are delighted to now be able to extend this integration to all users of our CloudTwenty7 platform.
“This integration represents a significant milestone in our ambitions to deliver the very best solutions to help our advisers’ source, apply and ultimately obtain a mortgage for their clients.”
Simon Wallace, head of mortgage integration and transformation at Virgin Money, added: “The wider roll out of the APPLY platform to registered brokers in partnership with Twenty7Tec is very exciting.
“The pilot successfully demonstrated the speed and ease in which brokers can submit business to us through the platform, giving them more time to spend on helping their next client with their application.
“This is a great example of Virgin Money’s commitment to drive change and innovation in the mortgage market and push the boundaries of technology to help our intermediary partners and customers.”