Mortgage News
Moneyfacts to launch intermediary sourcing system
Moneyfacts is launching a B2C sourcing facility for intermediaries at next week’s Mortgage Business Expo.
The solution, ‘iFrame’, sits within intermediaries’ own websites and allows them to offer a full mortgage search and best buy tables for their customers to access. The customer facing part is based on the Moneyfacts comparison website.
Adviser’s customers can get background details on each product, send a quick enquiry to the intermediary asking them to contact them to discuss their needs, or even complete a full enquiry which will pre-populate a complete client record in Moneyfacts’ free whole of market intermediary sourcing system, eMoneyfacts.
The system is directly integrated to the eMoneyfacts online sourcing system which is available to any FSA regulated broker free of charge meaning that brokers don’t have to rekey applicant details and can proceed straight to searching for products and even applying for deals online through the Mortgage Trading Exchange.
The system will show direct deals as well as intermediary products meaning customers have total faith that the broker is representing the whole of the market and means brokers get the chance to cross sell and up sell to customers who may have chosen a direct only deal.
Ed Payne, commercial manager at Moneyfacts, said: “In launching iFrame, we are offering a solution to those intermediaries that want to have a B2C sourcing and comparison solution on their websites at a price they can afford.
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“This is a whole of market solution and we have deliberately included direct products but this is a deliberate step on our part as intermediaries’ customers will be looking at other comparison sites that already show these deals.”
“Whether we like it or not, intermediaries don’t have access to certain deals or lenders. The challenge for them is to adapt to the current market by increasing general insurance and protection sales and potentially charging a fee for arranging direct deals. Even if they are looking at a direct deal, customers often still want and value intermediary advice to assist them with administration and ensure that cases are well packaged to ensure fast turnaround times. That is why we have launched this system on a whole of market basis and many brokers are interested in taking it up.”