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Mortgage 2000 exits mortgage sourcing

Mortgage 2000 is exiting the mortgage sourcing market and transferring users to Mortgage Brain.

With effect from February 23, all Mortgage 2000 Encore users will automatically become Mortgage Brain clients unless they opt out. Mortgage Brain says users will be supported through the transfer by a training programme of seminars, online presentations and one-to-one technical support.

Mortgage 2000 is owned by moneysupermarket.com, but the comparison website says thanks to the success of moneysupermarket, there is no need for a sourcing system.

Moneysupermarket.com director of mortgages Stuart Glendinning says: “Mortgage 2000 holds a great deal of affection within the business as this is where we started from. However, in this market there is no room for nostalgia and there wasn’t anything in Mortgage 2000 that wasn’t being supplied by many other businesses. With regret we will cease to promote the mortgage 2000 mortgage sourcing system.

“We aim to make this transition as smooth as possible and have built a migration tool that enables brokers to transfer data from Encore to Mortgage Brain seamlessly.

“We are sure Mortgage Brain is the right partner for the future and has the best interest of our business and Encore customers in mind. We would like to thank all our customers for working with us, and supporting us throughout this transition and seek to reassure them that intermediaries will continue to be valued business partners with paaleads.com.”

Mortgage Brain chief executive Mark Lofthouse says: “We’re delighted that, after looking at all available sourcing systems, mortgage 2000 has selected Mortgage Brain to supersede Encore.

“We’ve jointly developed a transfer programme to ensure the transition from mortgage 2000 to Mortgage Brain will be simple and easy. Mortgage Brain is focused on delivering the best products and services to brokers. This is demonstrated by our continuous product investment programme, and backed up by the most accurate mortgage product information and excellent customer service. It’s our track record that proves we are the best strategic partner for sourcing and electronic trading.”

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