The portal seeks to make it simple for brokers to access the second charge mortgage market. Brokers can compare products before carrying out affordability checks and use the portal to submit applications.
To ensure compliance with the European Mortgage Credit Directive, the portal includes features such as automatically recorded logs of the searches carried out. Brokers can export these logs for their own compliance records.
The step-by-step case tracking system lets brokers see what is still outstanding on each application, enabling them to push cases through to completion more quickly.
Harry Landy, sales director at Enterprise Finance, said: “The Mortgage Credit Directive means more brokers have to consider second charge mortgages on more occasions. Using the Apex portal makes finding alternative finance solutions and complying with the regulations as easy as possible at every step. Brokers can therefore significantly reduce the work needed to meet the Directive’s obligations whilst delivering great outcomes for customers.”