Twenty7Tec, the leading provider of technology solutions to the Lending industry, today announces a further enhancement to its MortgageSource system, that will enable brokers to compare further advances and ported products to purchase, remortgage or second charge lending options.
In the latest release scheduled for 21st January 2017, MortgageSource will also receive a host of other system enhancements, such as updated buy to let sourcing in line with the PRA regulations, and the integration of iPipeline’s LifeGenie product, to produce indicative life quotes.
Further advances can now be compared against a standard remortgage or second charge product, while ported products are displayed alongside purchases, enabling brokers to quickly identify which option is best suited to the client’s needs. The system produces a full audit trail showing the comparison of the different lending options and the product ultimately selected.
Phil Bailey, Strategy Director of Twenty7Tec commented: “This is the first time a sourcing system has been capable of looking at a re-mortgage, further advance and a secured loan, all from the same results screen and backed up with our compliant Evidence of Research document”.
“Combine that with the ability to show ported products with the existing lender, and you as a broker have shown a level of compliance from a sourcing system that has never been achievable before”.
Bailey continued; “Brokers expect technology to keep up. What we have shown with this series of system enhancements, is that we listen to our users and can adapt quickly to their needs and the demands of this industry”.