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Twenty7Tec updates MortgageSource to offer brokers ‘roboadvice’ look

  • 26/07/2017
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Twenty7Tec updates MortgageSource to offer brokers ‘roboadvice’ look
Technology developer Twenty7Tec is making its mortgage sourcing technology available to brokers or to offer a mortgage search and digital advice functionality for consumer websites and aggregators.

Mortgage advisers Dwell, John Charcol and Mortgage Advice Bureau have already bolted the Application Programming Interface (API) technology onto the front-end of their websites for consumers to use.

“Its about supporting our intermediary partners to help compete with pure digital only firms and be able to offer a hybrid of digital, phone or face-to-face regardless of how the consumer wants to engage with them,” said James Tucker, managing director of Twenty7Tec (pictured).

Brokers do not need to use the firm’s MortgageSource to bolt on the API and the work takes from two weeks to two months to add the API to a website, with a monthly subscription charged by number of searches.

Full end-to-end or one-click applications from the broker or consumer straight through to a mortgage lender system with no re-keying is in development in the UK but several players suggest it is expected by the end of the year.

Phil Bailey, director of intermediary solutions at Twenty7Tec, said: “We strongly believe that the ability to offer the option of digitally enabled advice – otherwise known in the market as robo advice – is a critical component in an intermediary being able to service the needs of all clients, regardless of their circumstance.”

Bailey continued: “These enhancements to our API are further evidence of our commitment to deliver technology solutions that support the traditional intermediary community, as well as those market participants that are looking to disrupt it.”

Pradeep Raman, founder and CEO at Dwell Mortgages added: “We wanted to work with an equally ambitious technology partner for mortgage product information and sourcing. Digital advice can only be as good as the underlying information sources powering it.”

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