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Mortgage Source adds 2,400 DA subscribers in 15 months

  • 05/04/2018
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Mortgage Source adds 2,400 DA subscribers in 15 months
Twenty7Tec-owned Mortgage Source has confirmed another 2,000 directly authorised (DA) mortgage brokers subscribed to its software in 2017, including The Buy To Let Club, Alexander Hall and Knight Frank, with another 400 so far this year.



Mortgage Source is a mortgage, secured loan and bridging filtering tool, which said it has integrated through Application Programming Interface (API) with more than 10 client relationship management systems.

Other new adviser subscribers include Foster Denovo, New Leaf, Contractor Mortgages Made Easy, Key Solutions and Ingard.

Phil Bailey, director of intermediary solutions for Twenty7Tec (pictured), said: “We expect to announce further significant user growth during 2018 and are delighted to be working closely with some of the most important names in the market as we embark on the next stage of our development”.

Ying Tan, MD of the Buy To Let Business said: “Twenty7Tec is what our Industry has been crying out for, for years. Innovative, forward thinking and broker friendly. The recognition they have received over the last 12 months with awards and accolades has been fully deserved.”

He added: “Our partnership with Twenty7Tec continues to go from strength to strength and at a time when technology will play a significant part in shaping our industry, it’s never been more important to align yourself with the right provider.”

Mortgage Brain CEO Mark Lofthouse, which offers The Key, said: “We have seen substantial growth in users and usage of our products and services over the last year and now have over 22,000 users comprising 36 of the largest networks and DA firms and many thousands of smaller companies.”

In further signs new sourcing system technologies are getting traction, criteria-led search engine Knowledge Bank, which launched in September has signed up over 1,200 advisers since launch.

Nicola Firth, CEO of Knowledge Bank said: “We see the advice process now being conducted in three stages, with a criteria search first, then affordability and finally product sourcing because unless a client fits the lender’s criteria and affordability they cannot get to product selection stage. Brokers do therefore still need to use their product sourcing systems but the need for a criteria search system to replace the multiple spreadsheets within the industry has been long overdue. As a result we have had a significant take up from brokers, clubs, networks and lenders in a very short period of time.”

Iress was unavailable to comment.



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