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Exchange modifies Cat loans service

The Exchange has launched the third version of its mortgage sourcing

service for
IFAs to support Cat-standard mortgages.

The system is ready to support Cat-standard mortgages
as and when they

appear in the market. As with other product features, IFAs will be able to

include or exclude Cat products in their search criteria.

The new service is in res^_ponse to feedback from IFAs who want improved

product filtering and comparison capabilities for different mortgages.

The rate-control options, such as variable, fixed, capped and discount,

have been
separated from product attrib-
utes such as tracker,

flexible and cashback.

This enables IFAs to easily compare the newer flexible products that are

rapidly growing in popularity. They can now filter redemption penalties

during or after the incentive period, allowing them to find the most

transparent deal for clients.

Managing director business to business Nick Prestwich says: “Following the

Government&#39s recent announ^_cement outlining the guidelines for mortgages,

we anticipate many lenders will be supporting
Cat standards in the near

fut-
ure and have modified our service accordingly.”

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