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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.”

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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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