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Exclusive: Mortgage broker launches tool to ‘double productivity’

  • 20/11/2012
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Exclusive: Mortgage broker launches tool to ‘double productivity’
A mortgage broker has launched a service which claims to double adviser's productivity levels and increase levels of introduced cases.

OCC Finance Technology’s Conor Murphy has created a pair of software tools which speed up the application process for brokers and allow them to form more partnerships with estate agents in the local area.

The firm’s AppTrack CRM (customer relationship management) system allows brokers to track the process of cases in an easy-to-manage system while its consumer-facing IntelliCalc tool lets consumers search houses in their local area based on the mortgage they can afford.

Murphy licences the software to individual broker firms around the country and agrees an exclusive postcode deal in each area. Brokers then sub-licence the calculator tool to local estate agencies in order to guarantee introduced business from them and reduce the commission fee.

“If you want to get into lots of estate agencies then this product will help you get more agents on board and grow your business very quickly,” he told Mortgage Solutions.

“I’ve tried all ways to get estate agents on board before when you approach with nothing to offer but a small slice of the commission and  I’ve found you are only able to get around 10% on board.

“Since I’ve been able to offer a software programme free of charge that strike rate has jumped to 80-90%. When you offer features to estate agents it is much easier to grow your introducer base.

“We pay our estate agents 20% commission for introduced cases. I know of brokers who are paying 40% or 50% to estate agents, so there are big savings there.

“On average 1-in-4 leads that come from our IntelliCalc software result in a sale for a broker.”

Murphy’s own brokerage Capricorn Financial currently uses the system, as do a further 30 broker firms around the country, totalling 100 individual brokers using the system across the UK.

Capricorn Financial has all the postcodes in London, with advisers in Belfast, Derby, Edinburgh, Manchester, Oxford and Portsmouth all also using the system. The software costs £150 per person each month.

“This product is the difference between an average and an efficient broker. You can process cases twice as quick and do half as much work by cutting out all the aimless phone calls made during the application process.”

“You can set our system to email your clients when they are due to review their mortgage, so if they have taken a two-year deal our system will send them an email after 22 months asking them to get in touch. It also notifies the broker so that they can talk to clients and keep them up to date.”


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