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Do you expect to see less or more second charge mortgage lenders in 2018?

Castle Trust creates AI quotation engine

Alex Upton

Castle Trust has launched a quotation engine powered by artificial intelligence (AI) for its brokers.

Brokers will be able to benefit from instant quotations generated in real time by the engine for all first and second charge loans up to £750,000.

As well as quoting rates, Castle Trust said the algorithms behind the calculator generated the maximum achievable loan size for a given transaction.

The engine also offers functionality to generate rates for any blend of serviced and roll up interest.

Castle Trust said the launch of the calculator would be the start of a new era for the lender, with further technological innovation planned for later in the year.

“This is a huge leap forward for Castle Trust – our intermediary partners are already reaping the benefits,” said Alex Upton, director of sales at Castle Trust (pictured above).

“Offering instant quotations is a new departure for us and reflects our desire to make our pricing both simpler and easier to access.

“We set out to create the first truly intelligent quotation engine in the industry, which reflects Castle Trust’s commitment to becoming a leading UK fintech. 

“It has been very well received by the market – watch this space, there’s more to come.”

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