Enhancements to its main system are also being made to make it capable of supporting the new sales process brought about by the directive which dictates that second charges must be considered as an alternative to remortgaging. The software will allow brokers to produce all documents required to be compliant with the new regime.
Its ‘MCD ready’ systems will be demonstrated at its 2015 series of Mortgage Vision events, taking place this autumn, and will then be rolled out to the market at the start of 2016.
Mark Lofthouse (pictured), CEO of Mortgage Brain, said: “As a business we have seen two major regulatory changes and have worked hand-in-hand with brokers and lenders to provide market-leading technology solutions that not only meet but far exceed the basic regulatory requirements.
“We have a proven track record of working with the industry and providing a solution that works for all concerned.”
Twenty7Tec launched its MCD-ready sourcing system last month which allows brokers to source first and second charges and bridging loans on one platform. Brokers can compare the cost of leaving an existing mortgage in place while taking out a secured loan against a remortgage.
