HSBC UK has partnered with LMS to automate remortgage cases via its Decisioning and Automated Remortgage Technology (DART).

The bank said many remortgages still rely on manual processes, which can cause delays and uncertainty. This can result in borrowers moving onto a lender’s variable rate and facing higher repayments.

However, HSBC UK stated the new automation will result in a quicker and smoother process for customers, with borrowers benefiting from upfront visibility of what remortgage cases require, such as anticipated timelines and any additional legal work.

DART assesses each mortgage case and routes it either through a fully automated journey or via a partial automated journey, helping to reduce manual intervention and enable proactive decisioning.

Initially, HSBC UK will use DART to automate remortgage cases with the least complexity, enabling conveyancers to spend more time on complicated cases.

Head of mortgages at HSBC UK, Oli O’Donoghue, stated: "We are pleased to be the first lender to adopt LMS’s automated technology, providing borrowers with a smooth route to completing their remortgage.

"Across the mortgage industry we are seeing a determined effort to speed up processes for borrowers, whether they’re a first-time buyer, moving home, or simply remortgaging.

"HSBC UK is committed to playing its part, whether that be adopting new technologies like DART, digitising simple processes, or removing duplication."

Chief relationship officer at LMS, Suzanne O’Connor, added: "Having worked with HSBC UK for many years, it is great to be welcoming them as the first live lender to utilise case automation through DART.

"Remortgage cases can be time consuming and labour intensive, which often creates uncertainty for everyone involved. DART was designed to change that – by minimising manual intervention and giving customers clarity from the very start of the journey."

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