Mortgages at push of AI button

A SHAKE-UP of mortgages that would see loans offered in under 24 hours, is being called for by a former Lloyds executive, who wants to accelerate the process by introducing the power of AI.

- By Samuel Norman

Stuart Cheetham worked at Lloyds bank for more than a decade, spanning senior roles across Asia. He was chief executive in Hong Kong and managing director in Japan.

However, since departing the Big Four bank, Cheetham founded his own company to streamline the mortgage system.

Using AI technology, Cheetham's MPowered Mortgages aims to reduce the number of steps to get a full mortgage offer, so the process takes under 24 hours.

Traditionally, the process can take up to a month.