Fully compliant direct deal sourcing system launched

The launch follows several months of uproar from brokers as lenders withdraw their intermediary ranges, meaning intermediaries can no longer access the best deals in the marketplace. The new product, HBSLite, is a stand-alone system that uses Defaqto’s whole of market database, and can source direct and intermediary products. HBS says its system also produces all documentation required by the FSA, including IDD’s, KFI’s and proof of research. Fee agreements can also be produced for deals which don’t pay a proc fee. The system will produce a letter of authority, informing the lender that ...