Digital platform launched by Target Group

January 28, 2021 by Heidi

Mortgage Advisors

Target Group has announced the launch of a new platform named Mortgage Hub that offers lenders and advisors a completely digital option for completing applications for mortgage loans.

The group has stated that Mortgage Hub will significantly cut the time and effort involved in completing the process of applying for and approving these loans. This is at least partly because its integration with both outside application programming interfaces (APIs) and open banking options will mean there is much less need to enter the same loan data multiple times.

Furthermore, Target Group is claiming that the result of this is that its new digital platform will be able to provide decisions in principle on loan applications within 20 seconds. It can be run as a standalone service, but is also able to be used alongside any software currently employed by mortgage lenders.

Target Group’s Chief Commercial Officer, Stuart Anderson, told Mortgage Introducer that the company was thrilled to get this new platform up and running and that it would make the application process quicker and easier for both advisors and lenders, adding:

“While other platforms have treated old processes with “digital lipstick,” we’ve developed a system that digitalises the entire process, taking everything apart and building from the ground up.”

Target Group developed this service with the help of Tech Mahindra, a technology company based out of India.

This seems like further evidence that the future of the mortgage industry is digital, with even the CeMAP mortgage advisor training needed to work within it being increasingly provided online.