Lenders accounting for 60% of all mortgages, have agreed to verify key mortgage product details on M...
Lenders accounting for 60% of all mortgages, have agreed to verify key mortgage product details on Mortgage Brain' s mortgage sourcing and trading system, Mortgage Broker. In future individual lenders will be able to guarantee their product details, a feature which has been in demand from advisers.
A recent independent survey of mortgage introducers found that in excess of 94% of respondents indicated that mortgage product accuracy was the single most important factor when selecting a mortgage for their clients crucial to their business.
Products that have been verified or guaranteed by lenders on Mortgage Brian will be clearly identified using a 'traffic light' system.
It is open to all lender partners, providers of exclusive products and mortgage clubs, says Mortgage Brain.
So far, Alliance & Leicester, NatWest, Bank of Scotland, Northern Rock, BM Solutions, Royal Bank of Scotland, Halifax, UCB Homeloans, Intelligent Finance, Virgin one account, The Mortgage Business, Woolwich Barclays and Nationwide ompanies have announced their participation.
Discussion are being held with other lenders and Mortgage Brain will announce their participation in due course.
The service is free of charge to users of Mortgage Broker. All an introducer will be required to do is update the mortgage product data at least every 24 hours.
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