Solution Walkthrough

The Digital Mortgages Self-Service Application solution is an end-to-end mortgage application.

The online process accommodates several big steps that inform you in a few minutes what is the bank offer and whether or not you can apply for one of those offers. It includes an instant decision in principle for you to be able to check whether you are eligible for a potential mortgage. It is a pre-eligibility determination of a customer to enable you to receive the funds necessary for moving forward in you property buying process. Once the property is decided on and you continue the formal approval, an underwriter approves or rejects the request. For the positive answers, you can proceed to the property valuation and conveyancing.

The accelerator contains the following steps that are gathered in one central location that manages your application, the My Mortgage Hub:

  • Get Started: where you select the reason for looking for a mortgage and how far along you are in the process of finding a property
  • Searching for Real Estate: where you can look for a property that matches your needs. It is an optional step. The solution offers in addition a Zoopla integration to help you find a property. Any other third-party platform can be integrated.
  • Getting a DIP: where you insert personal and financial information about the identity of the main borrower and, optionally, that of the co-borrower. That information is later used in advanced calculations to determine your eligibility. An email is sent containing the decision in principle document that was generated by Configuring the Digital Documents Processor
  • Formal Approval: where you provide proof of identity, address, income and expenses
  • Property Details and Property Valuation: where you add the information about the location of the house and set up a meeting with an assessor
  • Insurance: where you provide the insurance document
  • Conveyancing: where the solicitor adds the property deeds and title
  • Signing The Contract.

Each page contains a Go back button that allows you to steer to the previous step.

IMPORTANT!  
The journey is built for the United Kingdom market. Thus, the citizenship of the applicant must be British with a maximum number of applicants two. For different business requirements, consider modifying this validation.

Hence, the solution is a fast mortgage application to specify from your mortgage lender. The flow can be achieved online 100%, without the need to visit a financial institution. It can be launched from two starting points:

Below is a UML diagram showing the main actions that taken to apply for a Digital Mortgages Self-Service Application.

To download the diagram, click here.