Kensington Mortgages has partnered with digital platform Koodoo to launch an online remortgage portal for brokers and clients.

The portal presents brokers and borrowers with available remortgage rates or products as they come to the end of their fixed-rate term deals.

The specialist lender says it allows brokers to switch clients to a new rate product “within minutes” and receive the corresponding procuration fee.

Koodoo adds the portal is part of its origination platform, which includes digital distribution through leading comparison sites, a digital decision engine, an underwriter portal and integrations with digital data sources to assist underwriting.

Koodoo was founded in 2019 by chief executive Seb McDermott, vice president, product Andrei Lebed and chairman Dan Cobley, a former managing director of Google UK and Ireland, and is backed by UK fintech venture capital firm Blenheim Chalcot.

Kensington Mortgages chief commercial officer Vicki Harris says: “We believe the portal will make remortgaging faster and simpler for brokers and clients alike.

“Our aim is always to innovate and help improve the way our mortgages work, and with the help of Koodoo we’re doing just that, as well as reaffirming Kensington’s place as a leader in specialist lender mortgage technology.”

Koodoo’s McDermott adds: “The portal enables a product switch in minutes and is fully integrated with Kensington systems meaning no re-keying and real-time decisions.

“We look forward to continuing our partnership with Kensington as we work together to harness technology for the benefit of customers, brokers and underwriters in the mortgage industry.”