Axis Bank has chosen property risk software developer eTech to provide an online solution enabling brokers to easily submit portfolio data online to help lenders meet new requirements for portfolio landlords.
eTech’s buy-to-let hub addresses the compliance issue as well as bringing stakeholders closer together by streamlining processes and automating operations previously carried out manually.
Through the hub, brokers can upload an entire portfolio’s property details as required by the regulator, data cloning enabling multiple portfolio submissions to different lenders and automatic address data verification and configurable rules around AVMs add further efficiencies.
Marylen Edwards, head of buy-to-let business at Axis, said: “eTech’s buy-to-let hub is an inspirational tool and Axis Bank are so pleased to have been able to work with eTech in offering this facility to our broker partners.
“The speed from brokers uploading the portfolio to the assessment landing on our desk takes no more than a few minutes and is a real benefit to our underwriting process post PRA changes.
“Our focus going forward is reiterating to our introducers the importance of having an accurate and up to date portfolio and how by not having the correct information, can impact on the whole application assessment process.”
Mark Blackwell, lending and surveying services director at eTech, added: “We’re delighted to be partnering with Axis Bank and their early adoption of buy-to-let hub indicates their commitment to streamlining portfolio stress testing and simplifying processes for brokers.”