Iress has announced that Principality Building Society is now live with its Lender Connect software, which aims to help mortgages move faster by using API technology to connect with lenders.

Principality, a mutual building society based in Wales, looks after savings, investments and mortgages for over 500,000 members.

The Lender Connect platform automatically pre-populates mortgage applications with data already captured in advice and sourcing software, allowing intermediaries to apply for mortgage products on their clients’ behalf.

By automatically pre-populating a mortgage application, Lender Connect can significantly reduce time and duplication of data entry.

Global head of product for sourcing at Iress, Jacqui Durbin, said: “By joining our service, Principality will be able to streamline the mortgage application process for their clients, giving their members increased reassurance and certainty in the home buying process.”

Principality product owner, Gwion Williams, added: “We are working hard to provide our broker partners with certainty and efficiency. Lender Connect has been easy to use and has meant the transition from the sourcing portal into MSO is smooth.

“Given that a large proportion of the data is pre-populated means the application is submitted quicker and there is less duplicated work for our brokers.”

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