By Hamza Behzad, Business Development Director at Finova
Over the last twenty years, the mortgage market has experienced one of its most significant transformations. What was once a paper-heavy, manual process is now shaped by digital platforms, data-driven decisions, and evolving customer expectations. Technology has shifted from a back-office support tool to the foundation of the entire mortgage experience. From lenders to brokers to customers, everyone now expects processes to be fast, transparent, and connected.
From paperwork to platforms
Go back to the mid-2000s, and the typical mortgage process looked very different. Applications meant stacks of paperwork, face-to-face meetings, and long waiting times. Digital systems existed but were often rigid and challenging to adapt, leaving little room for innovation. The financial crisis of 2008 paused much of the sector’s progress. As lenders focused on regulation and stability, many legacy systems remained in place for longer than expected. But out of that period came a new wave of fintech investment — and with it, the opportunity to rebuild. Today, that shift is complete. Modern lending platforms have replaced static, one-size-fits-all systems with flexible, cloud-based solutions that evolve alongside the market.
A digital mortgage market
The modern borrower expects the same level of convenience they get from every other digital service, from streaming platforms to online shopping. Mortgage journeys now reflect that reality, offering real-time updates, digital signatures, and instant affordability checks. According to UK Finance, mortgage lending reached £77.6 billion in Q1 2025, a 50% increase on the same period last year. Yet technology investment hasn’t always kept pace with this growth.
For lenders, the next step isn’t just managing volume; it’s ensuring that systems can scale, integrate, and adapt quickly.The more connected the process, the better the outcomes for both brokers and customers.
The growing role of AI
Artificial intelligence is gradually becoming a key part of how the mortgage journey evolves. The Bank of England recently reported that 75% of financial services firms are already using AI, with another 10% planning to adopt it within three years. AI is moving well beyond simple automation. It now has the potential to help assess credit risk, analyse affordability, and flag early signs of vulnerability — all in real time. The goal isn’t to replace human judgment but to enhance it, ensuring lenders can make accurate, fair decisions at speed. As with any innovation, adoption needs to balance ambition with caution. Data integrity, regulation, and trust will determine the speed at which AI becomes part of the mainstream mortgage process.
Flexibility is the future
If the last two decades have proven anything, it’s that flexibility is the foundation of long-term success. Market conditions, consumer behaviour, and regulation can change quickly — and lenders need systems that can respond just as fast. Modern technology now makes that possible. Whether it’s connecting seamlessly with sourcing tools, streamlining broker workflows, or automating customer updates, lenders with adaptable infrastructure can respond to change, rather than react to it. Speed, simplicity, and reliability will continue to set successful lenders apart.
Technology as the common thread
In today’s market, success isn’t judged solely by rates or distribution channels — the technology behind the process judges it. The more digital the journey, the easier it becomes to stay compliant, deliver fair outcomes, and create positive customer experiences. Automation and intelligent data flows enable better oversight, stronger decision-making, and quicker turnaround times. By removing manual complexity, lenders and brokers can focus more on what matters most: helping customers.
Looking ahead
The last twenty years have shown just how far the mortgage industry has come, but there’s still plenty of room to evolve. As digital maturity deepens, expectations for seamless, transparent, and intuitive mortgage experiences will only grow. The next chapter will be shaped by technology that brings people, platforms, and data closer together, creating a mortgage journey that’s not just faster, but genuinely smarter and more connected.
