Would we recommend a non-bank lender after the behaviour of ICS and Finance Ireland?
Brendan
Isn't it a little early, to be adopting that position, Mr. Burgess?
Would you not think that more competition in the marketplace, is a good thing?
I tend to agree that this part could be improved as there are lots of scanned pdfs flying around and people a the lender presumably doing manual data entry. At the same time underwriting should be a time consuming, laborious process if it is being done right.If I was to build a platform I'd focus on automating the underwriting process.
I tend to agree that this part could be improved as there are lots of scanned pdfs flying around and people a the lender presumably doing manual data entry. At the same time underwriting should be a time consuming, laborious process if it is being done right.
I'll be in the market for a mortgage next year and the only thing I will focus on is price. I've already once been through BoI's slow and demanding underwriting process and I would do it again if they had the best rates.
For sure there are models that lenders use but it’s not at all simple when you try to factor in things like bonus income, self-employed income, divorced people, maternity leave, etc.I think a computer can provide a yes/no decision based on an agreed set of inputs.