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Big three dominate sourcing

Almost 80 per cent of intermediaries use Mortgage Brain, IF Online or Mortgage 2000 sourcing software, according to new research from non-

conforming lender Future Mortgages.

It questioned 300 brokers last month and found 28 per cent use Mortgage Brain to source quotes, 27 per cent use IF Online and 24 per cent use Mortgage 2000. Mortgage Link was on 16 per cent while all others accounted for 5 per cent.

The survey also asked intermediaries what they wanted lenders to offer online and 44 per cent asked for electronic applications, 26 per cent case tracking and 18 per cent decisions in principle.

Only 27 per cent said they regularly visit the FSA&#39s website compared with 61 per cent using the Council of Mortgage Lenders&#39 site.

Future director Brian Pitt says: “There are clearly three large online players very close to each other and pulling away form the rest of the market. The survey also shows paper based information is running out of steam to be replaced by online sourcing systems.”

Broker franchise Mortgageforce managing director Robert Clifford says: “We work closely with IF Online and Mortgage Brain and it is not a surprise they are out in front.”


Confidence in housing market near 1997 peak

Intermediaries&#39 confidence in the mortgage market reached its highest level in the first quarter of this year since its peak in 1997, says specialist lender Paragon Mortgages.The Paragon financial adviser confidence tracking index gives a rating of 121.7 for the first three months of 2002, up from an all-time low of 99 in the same […]

DBS chief Davy stepping down

DBS founder and chairman Ken Davy is stepping down after 20 years with the company.Davy pioneered the IFA network concept and for two decades he has been one of the industry&#39s highest-profile figures.He is leaving the comp-any of his own accord at the age of 60. DBS was bought by Misys in June 2001, with […]

The route to qualification

To give you some background, I am one of three partners, with a collective 45 years experience, who came together from different firms 18 months ago to set up Grosvenor Financial Consultants.We call ourselves general practitioners although one partner specialises in investment and particularly venture capital trusts. The other is heavily involved in self-invested pension […]

Online mortgage sales &#39negligible&#39, says CML

Fewer people than expected are using the internet to take out a mortgage and the number of online applications is low, according to the Council of Mortgage Lenders.But the CML predicts this could change with the advent of secure electronic signatures which allow the entire sales process to be completed online.The CML&#39s research, carried out […]


Case study: administration — implementing a management log

Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.


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