The KFI facility is being made available to brokers on September 30, via Infinet, the company's online application processing system.
Infinet, which has been developed with technology support provided by Newbury-based edge IPK, also provides mortgage brokers with access to the following: An accurate library from which products can be sourced based on KFI input details, the ability to pre-populate online applications using previous inputs, an intelligent and an application form which requires only necessary fields to be completed.
Network principals can track its members cases and proc fees via the website on a real time basis, as well as other features.
Future development of Infinet will provide a white label option of the system for networks principals.
Matt Gilmour, chief executive at Infinity, says: “This is a real coup for Infinity. We have been working hard over the past six months to produce a state-of-the-art system and it's great to be the first lender to show brokers what online KFIs are really all about. There has been much talk about KFIs recently, but it has all been theoretical because no-one has been able to produce them. The KFI is actually not a complicated document, on the contrary, users will be pleasantly surprised when they go on Infinet and see just how straightforward it is.
“By developing our online capability from scratch, we've been able to leapfrog our competitors, many of whom have become bogged down upgrading legacy systems. We have listened to what mortgages brokers and IFAs have been asking for and have tailored our system to do just that. What's more, it's available a month before M-Day, so brokers can become familiar with KFIs before they have to be used for real.”