For brokers, submitting a new mortgage application is rarely fast or straightforward. There’s the paperwork, the waiting, more paperwork—and sometimes, frustrating delays. In the worst cases, the property turns out to be unsuitable for the lender, and the process has to start all over again.
For lenders, the challenge is a delicate balancing act: they need to move quickly while maintaining robust risk checks. That’s where artificial intelligence (AI) is already making a difference—and where its future potential looks even more promising.
Instant document checks and data extraction
AI can automate the manual review of payslips, bank statements, and ID documents by instantly scanning and extracting key data. It identifies income patterns, flags missing information, and even detects signs of fraud. What once took hours—or even days—can now be completed in minutes.
Faster, more consistent affordability assessments
AI models assess affordability not just based on income and debt, but by analysing spending patterns, regional living costs, and employment types. Crucially, this is done with consistent criteria, reducing the margin for human error and promoting fairer decisions.
Smarter property risk analysis
Lenders must assess not just the applicant but the property itself. AI enables deeper analysis by combining valuation data with factors like property type, environmental risk (such as flooding or subsidence), and historical sales data. Tools like GeoConnect —Countrywide’s own smart data, intelligence, and decisioning platform — are helping underwriters make quicker, more informed lending decisions.
Real-time progress tracking and communication
AI-powered platforms can automatically keep applicants informed, updating them on milestones such as document approval, valuation bookings, or underwriting reviews. This not only reduces pressure on call centres but significantly enhances the customer experience.
Early detection of risk flags
By scanning thousands of applications at scale, AI can detect anomalies that may point to risk—like unusual financial patterns, duplicate applications, or inconsistent documentation. This helps lenders mitigate fraud and accelerate decisions for genuine borrowers.
AI isn’t about cutting corners—it’s about cutting delays. When used thoughtfully, it enhances the experience for everyone involved: brokers, valuers, surveyors, lenders, and—most importantly—customers. Whether it’s a first-time buyer awaiting approval or a broker racing to beat a rate change, AI can help keep things moving.
John McCurry is chief technology officer at Countrywide Surveying Services
