Masthaven develops API capabilities through link-up with Specialist Mortgage Group
Masthaven, the specialist bank, has today announced the launch of its new Application Programming Interface (API) connection with specialist master broker, Specialist Mortgage Group (SMG).
As one of the largest second charge mortgage and secured loans packagers in the UK, SMG brokers will now have access to near-instant DIP responses on Masthaven’s competitive second-charge product range.
Utilising the power of Open Banking, Masthaven’s API is now connected with SMG’s application platform Lenderlink meaning the specialist bank’s second charge products will be included in the master broker’s application funnel at a DIP level. This is just one step that Masthaven is taking to increase its presence in the mortgage market and will be revealing further plans to roll its API connection out to more broker firms this year.
The news comes as Masthaven recently launched reduced rates on its second charge range, including a Lifetime Tracker up to 65% LTV at 3.64%. Last month the bank also revamped its buy to let range, offering reduced rates alongside a more competitively priced proposition and flexible criteria points.
Jon Hall, pictured, Managing Director at Masthaven, said:
“APIs are promising to completely transform the mortgage industry and we are already seeing the positive impact of these through the likes of auto-filling technology and real-time case tracking. Our link-up with SMG is testament to Masthaven’s ongoing commitment to embrace technology within the sector to provide second charge products to an audience as wide as possible.
“Whilst we recognise the power of technology, we don’t ever undermine the importance of human intelligence. Tech allows the specialist lending sector to complete tasks smartly and with speed, but real people will always lie at the heart of the market.”
Matt Cottle, Project Director, Lenderlink & Chief Executive Officer, Specialist Mortgage Group, said:
“We are excited to be working with a leading lender in the specialist mortgage sector and are confident Masthaven’s second charge products will be popular amongst intermediaries. It’s great to see the power of APIs really starting to make a difference in the market and we look forward to seeing more of these capabilities utilised in due course.”