Nationwide Building Society has signed up to Iress’ Lender Connect and is the first lender to use the direct Decision-in-Principle (Dip) process.

This process will enable brokers to apply for Nationwide products and receive a DIP directly through Xplan Mortgage, removing the need to re-key information into Nationwide’s online broker portal.

Customer details are captured in Xplan Mortgage and, using API technology, these details are sent to Nationwide to quickly return a decision and produce the DIP Certificate.

The adviser can then click through to Nationwide to continue with the application.

In addition to receiving a Dip and certificate, an assessment of the property valuation and eligibility will be carried out if property details are provided.

This, together with at least 95% of data being pre-populated into Nationwide’s broker portal, NFI Online, means the application can be submitted with a single click.

Iress’s executive general manager, sourcing, Dave Miller says: “Working with Nationwide supports our goal of providing our clients with access to the widest possible range of mortgage products, while reducing the friction associated with applying for them.

“The direct Dip process means that lending decisions can be reached faster, with fewer manual steps and fewer errors, all meaning that brokers can provide a more efficient, valuable service to their customers.”

Nationwide Building Society’s intermediary digital relationships lead, Andy Tilsley, says: “This proposition aims to build on both simplicity and efficiency enabling brokers to progress Decision-in-Principles faster than ever before.

“We greatly look forward to continuing work with Iress to further improve the services we offer brokers.”