SMG offers second charge lender API-integrated portal for free

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  • 10/07/2018
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SMG offers second charge lender API-integrated portal for free
Specialist Mortgage Group (SMG) is allowing all second charge mortgage packagers to register for free on its Lenderlink portal.

 

The portal includes full application programming interface (API) integration with nine second charge lenders, allow applications to be transferred directly to lenders with no rekeying of data.

New registrants will be able to add as many users as they want with no capital outlay.

SMG said the system has been beta tested on 12 brokers for seven months with thousands of successful API’s already carried out.

Lenderlink is integrated with Optimum Credit, Together Money, Prestige Finance, Paragon Bank, Shawbrook Bank, Precise Mortgages, United Trust Bank, West One Loans, and 1st Stop Loans.

 

Monetise later

Specialist Mortgage Group CEO Matt Cottle said: “Despite there now being wide availability of API technology in our sector, only the few have the ability and capital to build successful integrations.

“There are 80 or so packaging brokers in the second charge space; building 80 versions of the same technology for each lender would be completely insane.

“It made sense for someone to build a standardised version for everyone to use, so we thought, ‘You know why not?’”

Cottle added that the plan is “to give it away for free first and then work out how to monetise the system.

The Loan Partnership has been using the portal since January. Director Andy Pelley said: “It is a long while since I have seen a system that grabbed my attention like this one.

“There is literally nothing like it out there and it is head and shoulders above others I have seen,” he added.

 

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