Bluestone Mortgages has announced the widespread rollout of a new online platform that will make it easier for mortgage advisors to get complex loan applications submitted.
This platform is called Bluesky and the company first introduced it for a trial period that lasted for six weeks. At that point it was available only to sapphire partners of Bluestone and it proved to be a resounding success with those advisors who were able to try it out. Now, the company has opted to roll out the launch to everyone within the UK mortgage sector in response to that.
Bluesky enables advisors to increase their efficiency when applying for loans for their clients by removing the need to enter the same information multiple times. It means complex applications can be submitted within minutes and Bluestone is able to reduce the waiting time from submission to offer to eight days rather than the previous 17.
Among the other features that it offers are the automatic retrieval of expenditure data from the credit file of a client in order to cut data input times; automated credit reports to ensure earlier credit decisions; and Bluestone open banking integration for accurate income and expenditure data retrieval.
Doug Hall from Mortgage Packager 3MC told Mortgage Strategy that:
“Through the platform we have been able to provide an application to completion in just 21 working days, an outcome we never though previously possible.”
More advisors are looking to technology for greater efficiency, from completing their CeMAP training online to tools like this for working smarter.
