Cardiff-based packager, Next Generation Mortgages (NGM), has launched a new online resource for brokers and IFAs specialising in non-conforming and sub-prime residential mortgages.
The firm has spent the past year developing Revolution ‘ a new web-based, ‘on-a-plate service’ which features online case-tracking facilities, real-time product data, mortgage sourcing software and an integrated compliance monitoring facility.
However, the system does not yet accept online applications. Terry Markham, managing director of NGM, said: ‘We will be able to take online applications later this month, which is where we expect the bulk of business to come from. The system is built, but we thought it best to release in two stages.
‘Because we have set our stall out to deliver a system that will add real value to mortgage intermediaries this exercise has taken longer than anticipated. However, it is a great product and I am confident it will deliver a major boost to our business and the day-to-day lives of our brokers,’ he added.
The company has designed the system with brokers’ comments in mind in an attempt to make their life easier. Markham acknowledged that igroup’s online intermediary mortgage site, izone, was a model for NGM’s.
Richard Davis, director of IT for igroup, said: ‘With izone, we pride ourselves on a product that is the envy of the lending community. From what I have seen of Revolution, it could quickly establish itself as one of the leading online resources in the packaging world.’