Mortgage Refinancing Platform for UK Brokerage

Client

Dynamo is a large national mortgage brokerage in Britain with over 500 mortgage advisors throughout the country. To ensure they deliver the best mortgage experience to their clients, Dynamo was looking for a professional software engineering team that would develop an online platform for mortgage refinancing.

Challenge

The AIS Novations team had to build an online platform providing tailored advice to the borrowers and best remortgage rates for residential and buy-to-let mortgages from the country’s largest broker in one dashboard.

It was ideated as an all-in-one system comprising a web application, a portal, and a middle office solution integrated with multiple third-party services such as Mandrill, Mailchimp, Zendesk, and Onfido. The solution was to orchestrate delay-free online client support — 500 mortgage advisors were to promptly reply to client’s requests via chat or email.

AIS Team
5Developers
2Quality Assurance Engineers
2Project Managers
Customer location: London, UK
Project duration: 1 year

Solution

The AIS Novations team built an MVP from scratch within three months. The solution automates the mortgage refinancing process and handles the entire customer and associate engagement cycle — from the web application through the customer portal to the middle office platform with discretionary access for each user type: admins, borrowers, brokers, and mortgage advisors.

  • Website. Accessible to borrowers. Serves as an information source. It has an embedded calculator where a borrower can enter estate value, mortgage amount, and find out available loan types in one go.
  • Customer Portal. Accessible to borrowers. The user goes through a card-based questionnaire choosing between the two suggested options at each step. Thus, the user provides detailed information about his or her mortgage, property, finances, family membership, and more. The information submitted by the borrowers is stored on the middle office platform for further processing by brokers and mortgage advisors.
  • Middle office. Accessible to admin, brokers, and mortgage advisors only. The broker re-estimates the mortgage of the borrower, checks his or her credit rates, and amends the registration documents. Also, brokers and mortgage advisors can view available mortgage deals.

Tech Stack
HTML5Node.jsReact, MongoDB, JS, HTML5, SCSS
Services
Web Portal Development, UX/UI Design and Development, Quality Assurance
Industry
FinanceReal Estate
Miscellaneous
Redux, Swagger, Redux-Saga Integration: Onfido(IDV), MailChimp, Mandrill, Zendesk, Azure Storage

Results

The full-featured solution was developed in less than a year. It is based on multiple calculations resulting in fixed rates to enable a new mortgage loan or remortgaging with an extended grace period on more favorable terms and reduced monthly payment. The refinancing process is automated: one lending company transfers money to another while the borrower is only required to sign a new mortgage contract. After rollover approval, the borrower gets additional funds for reconstruction, repair, or buying a new mortgage.

The customer rating of the Dynamo solution at Trustpilot is 4.9 of 5 stars proving the top quality of the delivered product.

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