View more on these topics

More lenders look to join Mortgage Trading Exchange

Software provider Mortgage Brain says it has signed up three further lenders to its proposed electronic trading platform Mortgage Trading Exchange.

It is unable to disclose the identity of the lenders but says they are joining the ranks of around 20 lenders in talks with the company with a view to operating through MTE.

The service is aiming to go head to head with rival IFonline from its launch this October. Mortgage Brain hopes to have more than 50 lenders on board shortly after the launch date.

MTE is designed to provide intermediaries with lenders&#39 own application forms onscreen, enabling them to return the forms direct to the lender.

The system will automatically populate essential parts of the application form and enables quick movement to the next appropriate section.

The software company is initially launching to its 15,000-strong intermediary client base. The service will be available free of charge to brokers, while lenders will be charged £1 per application.

The software needed by brokers to send and receive applications will be downloadable free from www.mortgage-trade.com after the launch.

Sales director Mike Green says: “The MTE team is busy working with a large number of lenders to establish their electronic receivers and output the data to be compatible with their individual systems and develop lenders&#39 own application forms.”

Recommended

Clerical puts its trust in cartoon characters

Clerical Medical hopes it has found a simple way to explain trusts to IFAs using cartoon characters.Its new CD-Rom about offshore investments aims to put the relationships in a trust into everyday terms.Clerical uses cartoon characters to explain how trusts work. One scenario (above) sees the characters as the beneficiaries of a trust each getting […]

Guide to help firms on legal issues

Compliance advisory service Janada has published a guide to help smaller financial services companies ensure they are up to speed on regulatory and legal matters.The Regulatory Health Check is aimed at both traditional companies, ranging from IFAs to small life companies, and companies embracing e-commerce strategies.Janada says the guide provides an effective check for those […]

Annuity Bureau in joint deal to aid doctors and dentists

The Annuity Bureau has entered into a strategic partnership with specialist financial services provider Medical Sickness to give doctors and dentists better annuities.Medical Sickness, which provides specialist services to medical and dental professionals, will be working with the specialist annuity IFA to provide an at-retirement service to doctors and dentists with the aim of maximising […]

Govt lifts life sentence on retirement savers

The structure of personal pensions has effectively allowed the life insurance industry to monopolise the retail pension sector.All the Government&#39s blustering about pension misselling has done nothing to change the situation. But with the introduction of the Individual Pension Account, it would appear all this is about to change.The Government&#39s consultative paper detailing the introduction […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment