Platform homeloans has delivered its first same day mortgage offer using AVM technology and its clickdecision online system - and is aiming to provide instant offers on a wide scale by the end of the year.

Platform has recently signed an agreement with Hometrack to provide its AVM technology to facilitate cases up to 75% LTV.

The lender said additional work continues to facilitate higher LTV cases with the view to providing instant online offers by the end of the year.

Its first instant offer case, a conforming self-certification remortgage, was submitted by Peter Woods of Park House Associates and received by Platform through its clickdecision system at 6pm on Friday 16 February, at which point the application also passed an electronic ID check.

After converting the decision into a full mortgage application, an unconditional offer was given at 2.15pm the following Monday afternoon – a turnaround time of just over five working hours.

Paul Hunt, Platform’s head of marketing, said: “As each day passes, we are building a greater understanding of the technology and want to ensure our eventual instant online offer proposition not only compliments our risk appetite but also matches or exceeds our proven ability to deliver ‘best of breed’ online solutions to our intermediaries.”

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