Specialist buy-to-let lender Axis Bank has made changes to its Decision in Principle (DIP) submission system.
The bank said its online portal for keying DIP enquiries has been reconfigured to provide a more logical, simpler and faster journey which now involves four key sections – intermediary details, applicant’s details, loan details and property details.
Jason Neale, head of buy-to-let business at Axis Bank UK said: “We are aware our current submission system is not the most user friendly so we are grateful to our intermediary partners who have supported us so much since the product refresh.
“To see this level of growth in applications in such a short period suggests we are addressing the needs of modern landlords, but we are committed to providing a better customer experience as well.
“Work has begun on a complete new submission system which will provide the customer experience our intermediaries deserve and the aim is to have this rolled out before the end of 2019.
“Naturally, most businesses would wait until the introduction of a new system rather than spend time, energy and money on the development of an outgoing system but it was important for us to make this investment to ensure we made it as easy as possible for our partners to submit dips within the system we currently have.”
The changes follow a successful product refresh on 1 July that has seen the bank’s new business applications increase by over 150%.