"Unicus simplifies the application and funds release processes for lenders, intermediaries and clients."
The new online portal, Unicus, facilitates brokers’ transactions for their self build, custom build, renovation and conversion customers.
Brokers will have access to information such as upfront cashflow requirements, stage payment schedules and customer application progress trackers; as well as support and guidance on existing and new products, such as the Government’s forthcoming Help to Build Equity Loan Scheme.
Additionally, brokers will be supported with a suite of training materials, including tutorials guides, and research insights.
Julian Foster, chief operating officer at BuildLoan, said: “This type of specialist lending can present significant challenges to clients, brokers and lenders. Before Unicus, brokers faced substantial obstacles stemming from inaccurate information being provided to them from traditional sourcing systems. This, in turn, affected the quality of the information and the product advice they offered to their clients.
"Unicus’ development originated from insights gathered from the intermediary sector over a period of time. The data obtained indicated a dissatisfaction with traditional sourcing systems, which do not cater for specialist complex product offerings tailored to self and custom build customers and do not offer the required functionality, such as 24/7 portal access, to allow brokers to offer a first-class service to their clients.
“Unicus is beneficial for everyone involved – the broker, the client, the lender, networks and mortgage clubs and our own staff, as it offers a comprehensive portal with full end-to-end visibility coupled with first-class resources and information."
Alasdair McDonald, head of intermediary mortgages at Furness Building Society, commented: “BuildLoan’s Unicus platform is a major innovation in the way self and custom builders’ finance needs are matched to lenders’ products and criteria. Unicus simplifies the application and funds release processes for lenders, intermediaries and clients.
“The launch of Unicus by BuildLoan comes at a pivotal time for the self and custom build sector, which is expected to grow significantly with the backing of various Government initiatives including Help to Build.”
Darren Ditchburn, chief customer officer at Darlington Building Society, added: “Self and custom build finance can be seen as complex, and BuildLoan’s Unicus platform is an excellent example of innovation taking place in the sector to simplify the process.
“It provides intermediaries with a unique lender match process based on the client’s proposed project and providing lenders, intermediaries and clients with a seamless application, information and support process.
“This comes at a really important time for self-procured housing and Darlington Building Society is committed to supporting the growing demand for finance through a range of exclusive products designed in partnership with BuildLoan.”
