The last year has also seen mortgage clubs and networks take an increasingly active role in the space as they seek to make their processes more joined up.
Speaking at the Financial Services Expo, Accord Mortgages director of intermediaries Jeremy Duncombe (pictured) said that lenders were looking at what they wanted to invest. He added that from a broker perspective, it could appear that nothing much has changed.
“On the technology side we’ve heard a lot and not seen a huge amount delivered, so I’m still waiting,” Duncombe said.
“The integrations that people promised would happen in the early part of this year seem to have been pushed into next year,” he added.
This point was echoed by HSBC head of intermediary mortgages Chris Pearson who said the lender was “starting to see a little more movement in third-party fintechs looking at how they integrate with lenders and brokers or networks.
“And there’s still quite a bit more to do on that,” Pearson said.
One Savings Bank sales director Adrian Moloney added that it was a case of lenders making sure they were “backing the right horses”.
Meanwhile, Lloyds Banking Group director of strategic partnerships Esther Dijkstra highlighted that networks and clubs were starting to get involved.
“Looking back 12 months, the incumbent players, some of the mortgage clubs and networks have made huge investments in technology.
“They are buying different parts of technology and they have linked-up more to make it an end-to-end operating model,” she added.