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Target and Base Commercial Mortgages transform commercial lending

Commercial lending processes have been significantly enhanced following a new partnership between Target Group and specialist commercial lender Base Commercial Mortgages.

Software and processes provider Target has delivered the systems and technology which assists Base in delivering great service and fast lending decisions. Base’s aim was to significantly reduce the time from application to decision in principle, and on to payout. Within the new system Base has the ability to make decisions in principle in minutes, following the underwriting of the deal.

“Target was able to provide us with a solution that is unique in the marketplace. Its leading edge technology and process management has helped us achieve rapid market entry and really enhance the commercial lending process,” Said Mark Stephens, CEO of Base Commercial Mortgages

The lending system developed for Base optimises technology to automate and speed up the loan decision. From web based enquiry or full application submission, underwriting, decision in principle, mortgage offer, account management and arrears management – the system delivers across each part of the lending from start to finish. Automated tasks to third parties are also in place, including links to solicitors, property valuers and credit reference agencies.

The system was delivered within six months of signed contracts, with Target’s commercially-flexible package offering Base fixed monthly costs, linked to the growth of its loan book.

“Target brings product expertise, combined with a genuine desire to examine our current processes and strategies to deliver a bespoke solution,” said Mr Stephens. “Its expertise across first mortgage, second charge lending, retail finance and commercial mortgages enabled it to add value to the process.”