– Removes manual processes, with the potential to speed up remortgages.
– Reduces friction and the need to chase for case updates.
HSBC UK has become the first lender to automate remortgage cases via LMS’s Decisioning and Automated Remortgage Technology (DART), resulting in a quicker and smoother process for customers.
Many remortgages still rely on manual processes, which can cause delays and uncertainty. In some cases, this can result in borrowers moving onto a lender’s variable-rate and facing higher repayments.
With DART, borrowers benefit from clear, upfront visibility of what remortgage cases require, such as anticipated timelines and any additional legal work.
Oli O’Donoghue MBE, Head of Mortgages at HSBC UK, said:
“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.”
Suzanne O’Connor, Chief Relationship Officer at LMS, said:
“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.”
The technology behind DART assesses each remortgage 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.
Benefits of automation for eligible customers include:
- Earlier certainty on what their remortgage will involve.
- Clearer timelines and more confidence in expected completion dates.
- Upfront visibility of costs, including whether additional legal work may be required.
- A less stressful journey, with fewer surprises.
Initially, HSBC UK will use DART to automate remortgage cases with the least complexity, enabling conveyancers to spend more time on complicated cases.