The new system — which is currently in its testing period — was designed in collaboration with various development finance lenders, including Shawbrook Bank, United Trust Bank, Paragon Bank and Barclays.

It allows intermediaries to source and package loans between £150,000 and £150m for residential, commercial and mixed-use new builds, conversion and permitted development projects.

Once a broker registers as a Brickflow user and inputs the developer's project details, the platform sources loans from over 40 lenders within two minutes.

The system uses proprietary algorithms to search over 120 data points across each lender and pairs the right development finance options with the project. 

After the preferred loan is selected, it allows easy data and document upload, to which lenders can be invited to login and view.

The platform aims to provide credit approvals between 48-72 hours. 

According to Brickflow, the system’s conversion rate from heads of terms to loan completion is over 90%, which takes between six and eight weeks, on average.

Brokers are charged a flat fee of £35 per user per month to access the platform, and get to keep 100% commission on every loan completed using it.

The system also offers brokers a white label solution, which allows them to upload their company logo and contact details so borrowers see the software as the broker’s own.

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Brickflow is currently inviting selected mortgage brokers to trial the beta release of the platform — those interested in participating can register on the firm’s website.

Once the first 150 broker firms have completed their feedback on the platform, Brickflow for Brokers will be launched to the whole broker market in around two months' time. 

Ian Humphreys, co-founder and CEO of Brickflow, said: “This much-needed industry tool is a game-changer for brokers who historically have suffered from a lack of choice, as well as difficulty in sourcing best-fit development finance loans for clients. 

“Our ground-breaking technology saves brokers time and money; it’s quick, efficient, insightful and transparent, providing brokers with an unrivalled range of development finance solutions and access to a significant income stream.

“Brickflow also supports brokers in the compliance process, storing all search and borrower information in the cloud, enabling them to document and evidence why a particular solution is recommended.

“By giving brokers and their clients instant access to development finance, they can quickly determine whether a site is viable, saving countless hours of time for all parties. 

“Lenders are particularly appreciative, as the system painlessly guides users through what information is needed to issue loan terms — this means beginners, as well as expert brokers, can use Brickflow.”