The next phase of the MortgageSource system, which launches on 21 January, has also updated its buy-to-let sourcing in line with the PRA regulations and integrated iPipeline’s LifeGenie, to produce indicative life quotes.
Further advances can be compared against a standard remortgage or second charge product, while ported products are displayed alongside purchases, enabling brokers to quickly identify which option is best suited to the client’s needs.
The system produces an audit trail showing the comparison of the different lending options and the product ultimately selected.
Phil Bailey, strategy director of Twenty7Tec, said: “This is the first time a sourcing system has been capable of looking at a remortgage, further advance and a secured loan, all from the same results screen and backed up with our compliant Evidence of Research document.”
He continued: “Brokers expect technology to keep up. What we have shown with this series of system enhancements, is that we listen to our users and can adapt quickly to their needs and the demands of this industry”.