How we built the bridging portal around broker feedback

With the bridging portal, we set out to build an enquiry and application process which made bridging finance faster, easier and more accessible.

We took lessons from the Buy-to-Let portal we’ve used for years, but wanted to build something ground-up, bespoke and that hit all of the essential beats necessary for a seamless bridging application.

Technology sits at the heart of everything that we do at LendInvest and in this project, we aim to provide the perfect balance of advanced technology and expert people. Bridging finance always needs an element of human touch as no deal is ever the same.

We know that more than anyone given our long track record in being a successful bridging lender and we wanted to turn it up another notch to provide something market-leading and be that one stop shop.

Here is how the team approached it.

Step 1: Sales & Design 

Our first step was to put the sales and design team together to go through our paper application process and choose the fundamentals of what each enquiry and application needed.

We included input from other teams such as credit and lending ops to ensure that no stone was left unturned to make this portal a success.

From there, it was about how we could make that work online.

Case studies: Bridging deals completed through our portal here.

We understand that sometimes there is limited information at the initial enquiry stage for our brokers, we, therefore, ensured that we asked for only the minimum information in order to make an initial decision to go in line with our superb online calculators providing speedy quotes, followed by heads of terms.

The same approach was taken on the application form and only asking for key information. We made sure we could integrate with third parties to reduce the need for unnecessary documents and data input which in turn speeds up that underwriting process.

Allowing our brokers to submit quickly, manage and review their cases on a live dashboard was also important to us to make the brokers life easier and more transparent on each deal.

Step 2: Internal testing 

Then was the internal feedback phase, and there was a lot of it!

Members of the sales team, who would inevitably end up presenting the process to brokers, got their hands on the process first to see how a deal could work and used their expertise of what brokers want to remove, add or improve stages.

This step was where a lot of what the bridging portal is today came together, with the expertise of the sales team and the UX designers working in tandem to refine the process.

Read more: The themes which will dominate the residential bridging market in 2022 here.

Step 3: Broker feedback

This was the most important step for the team, because a portal for brokers is only good if the portal is used by the brokers!

For this, brokers and their BDM sat and went through the portal, but with a light-touch approach from our side. The broker was free to use the system how they interpreted it and our team would take notes about how it was done and record their feedback.

The value here was taking the portal outside of LendInvest eyes, by the time it was ready for brokers our team had seen it thousands of times and fresh eyes identified little improvements our team could have become blind to.

These steps helped us make a best-in-class bridging application portal which saw record numbers of brokers using it in January, meaning more people are getting simpler, faster bridging deals for their clients.

To experience our bridging portal, see our range and get instant quotes for your deals, visit our bridging page here.

Credits: Leanne Smith, Sales Director