MQube has announced launch of MPowered, its new mortgage origination platform.

The platform offers non-regulated buy-to-let lending for individuals, limited companies, and portfolio landlords.

Product rates on offer start at 2.94 per cent across two- and five-year fixes at up to 75 per cent LTV.

MQube says that it is currently forming partnerships with other lenders and funders, the products from which will be available on MPowered.

The digital mortgage company says that its new platform harnesses propriety AI and deep learning technology to collect and analyse the data it serves mortgage intermediaries. In doing so, MQube believes that mortgage offers can be completed with more certainty and speed.

It has also partnered with Mortgage Advice, which will see AP applications rolled out across the UK mortgage market.

While currently offering unregulated BTL products only, MQube has designs to move into whole-of-market, subject to FCA authorisation.

MQube chief executive and co-founder Stuart Cheetham says: “We strongly believe in the importance of professional advice in the mortgage industry and emphasise the critical role of intermediaries in enabling better customer outcomes. Our view is that everyone in the mortgage ecosystem has a key role to play – the tools they use should be fit for the twenty-first century.

“This level of funding is a huge vote of confidence in MQube and for the potential of data-driven mortgages in the future.

“It is clear that lenders can see the untapped potential of artificial intelligence and deep learning in the sector in providing better outcomes for customers, advisers and intermediaries.”