LOOP - Initial Property Suitability Check

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The LOOP module of Decisions-as-a-Service enables lenders to instantly check the suitability of each property for which a new mortgage application is received.

Based simply on the address, the requested mortgage amount and proposed deposit, each property is instantly, remotely screened to check it meets lending rules and LTV criteria and the Title is also checked for any potential issues (e.g. flying freehold).

Typically, 90-95% pass this initial suitability check, with 5-10% being rejected and ‘looped’ back to the broker/applicant.