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IFA seeks source of Brain problems

A Midlands IFA claims to have lost business due to problems with sourcing system Mortgage Brain.

MMR Financial Planning IFA Alan Barrett says he has had difficulties in sourcing data from Mortgage Brain’s version six sourcing tool .

He says it is difficult to get through to Mortgage Brain’s technical department, with staff waiting over 30 minutes to try to speak to someone.

In a letter to Mortgage Brain, Barrett says: “It is clear that technical problems now exist with the system which make it unusable in its current format.”

He says: “Sourcers, not just Mortgage Brain, are like vultures on our backs who take our money but do not help us when we need it.”

Mortgage Brain said it would not comment on specific cases. Chief executive Mark Lofthouse says: “Since M-Day, we have seen a substantial interest in using the compliant version six of our system.”

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