Packager Scottish Life Mortgages (SLM) has signed a deal with sourcing system Trigold, which will allow the direct download of information into its back office without the need for re-keying.
The new functionality will allow SLM’s broker members to source a product through Trigold and then, as long as the product belongs to one of the packager’s 17-strong lender panel, get an electronic acceptance in principle.
Steve Scholes, director of SLM, said it is the first packager to have developed such a system with Trigold. He said: ‘The real benefit is the time saving for packaged cases. The case can begin to be processed straight away, although the broker will still need to send in the supporting documentation as well.’
SLM has also now launched a ‘virtual bank’, which is an online facility designed to provide members with access to a range of personal loans, credit cards and household insurance products. Commission can be earned on all products, and it has plans to introduce conveyancing and will writing services in the coming months.
Scholes said: ‘The mortgage market is extremely competitive and feedback from intermediaries indicates clear demand for ways in which they can increase client loyalty through added value, and also for alternative sources of income.