The shared ownership function will allow brokers to search by type of scheme and by percentage share required which is designed to lead to enhanced sourcing accuracy.
David Aylmer, marketing director at TrigoldCrystal, said the growth of shared ownership and shared equity schemes had led to a need for an accurate sourcing tool.
He explained: “The increase in schemes for shared ownership and shared equity is good news for first time buyers as well as builders and the wider housing market.
“This will enable brokers to add another product area to their business and they could use this as a basis of increased promotion.”
Andy Frankish, managing director of Mortgage Talk, said it was an important step for brokers to source shared ownership mortgages.
He said: “It is becoming more of a mainstream product and is used by more and more customers so giving brokers the tools to search for these mortgages quickly is useful. One word of caution is that brokers should still contact the lenders to qualify the criteria rather than just trust sourcing systems.”