BEP Systems, the mortgage origination software house, is to provide Lendco with origination software for commercial mortgages, buy to let and bridging finance processes using their customisable Apprivo2 system.
Lendco launched in June this year with investment from Cabot Square Capital and provides specialist commercial mortgages focussed on buy to let and short term lending to property investors.
BEP have designed new systems to interface at every stage of the broker journey, from a new broker portal, to Lendco underwriting processes and integrating to the Quest system for valuations and Equifax for credit profiling.
As well as this, the technology had to take into account interfacing with a third party servicer. The work carried out by BEP Systems will significantly increase efficiencies when dealing with brokers who are helping their customers purchase buy to let property, commercial units, investment portfolios and student accommodation.
BEP Systems were able to complete the complex system work in just over three months, exceptionally fast for this scale of project, allowing Lendcoto benefit quickly from the new processes.
Simon Knight, Managing Director of Lendco, commented: “It was important that we used a software house that not only understood the market in which we operate but had an excellent grasp of the complex processes involved to underwrite cases and to interface with multiple third party systems. BEP impressed us with their knowledge and expertise in building and delivering excellent solutions in many areas of our origination processes.”
Chris Little, managing director of BEP Systems, said: “I’m delighted that BEP have provided such a complex set of solutions for Lendco. The new broker portal and integrated systems will help Lendco deliver a variety of commercial finance facilities to their brokers much more efficiently.
”It’s an exciting time in financial software development and we believe Apprivo2 is the fastest growing system in the UK serving specialist finance providers.”