The mortgage world is changing fast. While building societies have always prided themselves on putting members first, the reality is that today's borrowers expect Amazon-speed service with bank-level security. The good news? A new wave of agentic AI might just be the game-changer that helps building societies deliver both personal service and digital efficiency.
 

What makes Agentic AI different?

Unlike the basic chatbots we're all familiar with, agentic AI systems can think, learn, and make decisions on their own. Think of them as incredibly smart digital assistants that don't just follow scripts: they understand context, adapt to new situations, and can handle complex tasks from start to finish.

In mortgage terms, this means AI that can review a complete application, spot potential issues, suggest solutions, and even communicate with members, all while learning from each interaction to get better over time.
 

The current challenge

Frankly speaking, mortgage lending in the UK isn't exactly known for its speed. The average mortgage application takes weeks to process, involves mountains of paperwork, and requires multiple back-and-forth exchanges between lenders, brokers, and borrowers. Meanwhile, customers who can buy almost anything online in minutes are wondering why getting a mortgage feels like filing taxes.

Building societies face particular pressures in this space. You're competing against fintech startups that promise instant decisions and digital-only banks with streamlined processes, while still maintaining the personal touch and community values that make building societies unique.

 

Where Agentic AI really provides value

 
The beauty of agentic AI in mortgages lies in its ability to handle the more onerous, repetitive tasks while freeing up your team to focus on what they do best: helping your members.

• Smart Document and Application Processing: Instead of having underwriters manually sift through bank statements and payslips, agentic AI can instantly analyse documents, verify information against multiple databases, and flag any errors or missing data that needs human attention. We're talking about reducing what used to take hours into work that happens in minutes. 
• Real-Time Insights: AI could even leverage real-time financial data through Open Banking APIs for continuous affordability checks that adjust to a borrower’s changing financial situation, allow for instant income verification without manual statement uploads and initiate proactive nudges when a borrower might benefit from remortgaging.
• Intelligent Customer Guidance: Imagine a system that can walk first-time buyers through their application, explain complex terms in plain English, and even predicts what questions they're likely to ask based on their specific situation. This isn't just automated customer service; it's like having your most experienced mortgage advisor available 24/7.
• Proactive Risk Management: Agentic AI doesn't just assess risk at application time, it continuously monitors changing circumstances, market conditions, and regulatory requirements. If something changes that might affect a mortgage in your pipeline, the system can alert your team before it becomes a problem.

The building society advantage

Here's where it gets interesting for building societies specifically. While big banks might use AI to process thousands of identical applications, building societies can use agentic AI to provide a more personalised service, not less.

The technology can learn your specific lending criteria, understand market conditions, and even adapt to the unique needs of your membership base. It's not about replacing the human element, it's about amplifying it.

For instance, when a complex application comes in (maybe a self-employed borrower with irregular income) agentic AI can do the initial heavy lifting, gather all relevant information and present your underwriters with a comprehensive analysis. Your team can then focus on the nuanced decision-making that requires human judgment and years of specialist knowledge.
 

Navigating the regulatory landscape

From a regulatory perspective, it’s clear about one thing: firms need to understand and be able to explain their AI decisions. Agentic AI systems are increasingly designed with this "explainability" built in, creating clear audit trails and reasoning paths for every decision.

This transparency is actually a competitive advantage for building societies. Your members want to know that their mortgage decisions are fair and well-reasoned, and AI that can explain its logic helps build that trust.
 

Getting started without getting overwhelmed

The key to successful AI implementation isn't trying to revolutionise everything at once. Start small. Maybe with document processing for a specific product type, or with customer inquiry handling during busy periods. Learn what works, understand how your team interacts with the technology, and gradually expand from there.

Many building societies are finding success with pilot programs that run alongside existing processes, allowing them to compare results and build confidence before making bigger changes.
 

The road ahead

Agentic AI isn't going to replace mortgage advisors any more than calculators replaced accountants. But it will fundamentally change how the mortgage process works, making it faster, more accurate, and more responsive to member needs.

For building societies willing to embrace this technology thoughtfully, the opportunity is enormous. You can offer the digital experience that modern borrowers expect while maintaining the personal service and community focus that sets you apart.

The future of mortgage lending is intelligent, adaptive, and personal. The question isn't whether agentic AI will transform the industry, it's whether your building society will help lead that transformation or be forced to catch up later.

Ready to see AI-powered mortgage lending in action? Join industry leaders at the nCino EMEA Summit on 9th October to explore how AI is revolutionising the banking and mortgage sector and transforming the lending experience.