Mortgages Plc is testing its new technology platform which aims to offer complete automation to brokers.
The lender also has plans to relaunch fully in the buy-to-let and prime sectors. This comes after it withdrew from the medium, heavy and unlimited adverse markets last year as a result of the credit crunch.
Head of marketing Pollyanna Hughes says: “We have a small prime and buy-to-let proposition but we are looking to relaunch it. It will be a new type of product.”
Hughes says the market conditions mean it is a good time to test the new platform.
She says: “We have reduced the level of lending but we are confident about the numbers we are doing. Our new technology platform will help when the market becomes busier as it means we will not fall back on service.”
The company says that it has made a big investment in technology but has yet to set a date of when it will be fully implemented.
Mortgages Plc will also be starting new research this month in order to gauge where intermediaries are at the moment and how it can help them grow their businesses.