Woolwich is now able to receive full mortgage applications from Trigold's Prospector AAA sourcing system and e-trading centre.
The Woolwich is the latest lender to sign up to the Trigold’s e-trading centre along with 56 other UK lenders.
The e-trading centre is available free to all Trigold uses who represent over 70% of the market and is integrated with the Prospector AAA sourcing system to enable the re-use of client data throughout the sales process.
Bill Safran welcomed the arrival of Woolwich saying: “This is another example of the significant move towards an end-to-end mortgage process for brokers. It’s no longer a case whereby brokers need to jump between systems or processes and re-key the data at each stage.
“This Luddite method has thankfully been resigned to the bin thanks to lenders like the Woolwich. Brokers want access to the innovation and range of products offered by the Woolwich from their desktop as a natural progression of the sales process.
“This new development will allow brokers to pre-populate their clients details from the sourcing engine directly in the e-trading centre and submit a full mortgage application to the Woolwich in just a couple of clicks.”
Safran’s comments follow on from the recent announcement by Mortgage Trading Exchange that it had opened its e-trading standards to allow intermediaries to source and complete mortgage applications without the need to use different passwords and user log-in details for each individual case.
Both MTE and Trigold have been stepping up their e-commerce capabilities in recent months.
Origo is also trying to bring common e-trading standards to the mortgage market as well as its own Unipass secure password and username platform.
David Finlay, intermediary business director at the Woolwich adds: “The development of the mortgage sales process is something that we’re firmly committed to supporting as a lender. We looked carefully at the numerous ways that our intermediary colleagues access our products and it’s obvious that the e-trading centre is now offering a complete package. Not only are applications able to come through to us quicker as the submission is directly from the brokers’ sourcing system, but the accuracy of client data is increased as this is taken from the fact find.
“We also liked the fact that Trigold offer an opportunity for lenders to present their own proposition to brokers which means that we feel that we’re complementing the trading platform and not competing with it.“
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Matthew West on 020 7484 9893 or email [email protected].IFAonline
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