Bank partners with software firms to create end-to-end home-buying app

NatWest and a consortium of software providers are partnering to create an end-to-end conveyancing solution that will enable people get a home loan and manage the buying and selling process via mobile banking. The project leverages blockchain, or distributed ledger technology, that allows the information required to secure a mortgage and finalise an offer to buy to be seamlessly shared between each party on the network. The Coadjute consortium features software providers from each stage of the home buying process: Dezrez Estate Agency Software, Redbrick Solutions Conveyancing Software, eTech Surveyor Software, Search Acumen Property Data, Conveyancing Data Services Property Data and LMS Panel Management Software. Dan Salmons, director of mortgage innovation at NatWest, said: “We are committed to finding innovations that make our customer’ lives easier, and know that the complexity of conveyancing is a key pain point for many . . .  We believe the approach has the potential to be a real game-changer, not just for our customers but for the entire property market.” John Reynolds, CEO and founder of Coadjute, said: “We envisage a time when Coadjute-enabled businesses will be the go-to choice for all customers to get a mortgage and move home in one simple, fast and secure digital journey.”

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