A low-profile financial services organisation is to launch a database that will give product providers intelligence on who is transacting mortgage business.
Life and pension data provider Workload Financial Business Consultants offers three Touchstone databases which allow providers to share information on sales and transactions.
Money Marketing understands the company is about to launch a fourth that will help lenders and brokers analyse who is doing how much mortgage business and in which areas of the market.
A number of major players, including HBOS, are understood to have signed up for the service, which could give information on market share within brokerage firms, packagers and corporate networks.
Users may be able to break down data into categories of lending and split results by geographical areas.
The three existing databases include a life company database of IFA profiles that shows each IFA's sales across 50 product lines, including mortgages and protection. Subscription to this service costs around £50,000 a year.
The other two databases, which cost around £20,000 each, are a client profile database showing buyer activity across all sales channels and a fund management sector database.
Workload managing director Mark Hamill says: “I can confirm that we are reviewing a Touchstone proposition for the mortgage market but it is at an early stage and our discussions with potential users are subject to non-disclosure agreements.”
Purely Mortgages chief executive Mark Chilton says: “I cannot see lenders being spectacularly keen on this. They supply a certain amount of transactional data already but are terribly nervous about competitive issues and unlikely to share common data sources.”