As industry-leaders, we’re continuously pushing the boundaries in our quest to expedite funding, enhance transparency and foster long-lasting relationships with property developers.
Everything we do is underpinned by the latest technological advancements and backed up with extensive data, insight and analysis. And it’s this wealth of industry-leading expertise and technology that has enabled us to develop our latest innovation.
Introducing – instant Decision in Principle (iDIP)
As the name suggests, iDIP provides developers with a decision in principle within a matter of seconds. Up until now, property developers have had to wait to receive a decision in principle, which can be frustrating and lead to them missing out on sites and wider opportunities.
Our iDIPs are powered by Building Underwriting Intelligent Lending Decisions (BUILD), an in-house automated deal appraisal system that taps into the bank of data and analytics we have collated to date, which comprises:
- 10 years’ worth of finance applications
- 15,000+ applications
- Over £15 billion in funding requests
BUILD has been specifically designed to streamline the application approval process, making it faster and more reliable than ever before. It also provides an unbiased perspective on project risk, enabling us to swiftly provide indicative pricing and progress funding applications with certainty from the outset.
The benefits of iDIP: At a glance
- Speed
The iDIP process is quick and easy. It involves spending up to five minutes completing a short online application form and pressing ‘apply now.’ Seconds later, applicants will receive their response via email. A member of our Development Support Team will then make contact within 30 minutes to discuss the next steps for their application and project.
- Precision
Developers can be confident in the indicative pricing and loan parameters thanks to our unrivalled wealth of finance application data and analytics which are used to inform our iDIPs.
- Efficiency
Historically, property developers have had to wait to receive a decision in principle. But by applying for an iDIP, they can get an immediate response, every time – enabling them to act with efficiency and confidence on the next step of their project.
Game-changer
The arrival of our iDIP proposition is big stride forward in the sector, providing property developers with the all-important responses they need, when they need them. Property transactions can be time-consuming, so every minute that can be saved matters, particularly when they are competing for a site or negotiating with a vendor.
“Our new iDIP service leverages our extensive wealth of data insight and technological expertise and the benefits for developers are a big stride forward within the overall property development finance market,” explains Damon Walford, our Chief Commercial Officer.
“In a pilot of the service, we’ve already seen numerous property developers submitting multiple applications due to the exceptionally speedy response.”
Do you want a decision in seconds on your property development finance application?*
Apply for an iDIP here. If you’d like to find out more, our team will be releasing our iDIP feature at the Property Investor Show at London’s ExCel centre on April 19 and 20. Alternatively, you can contact us at developersupport@crowdproperty.com or call and speak with one of our experts on 020 3012 0166.
*Instant DIPs will not be issued for projects where the loan amount is greater than £3.5m (or £3m if bridging), the loan amount is less than £100k, the loan term is greater than 24 months, if any required data is omitted, or the loan type is portfolio acquisition, special situation, planning gain, or project refinance.
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