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Mortgage Brain in software deal for IFAs

Sourcing system Mortgage Brain has teamed up with insurance provider Payment-shield to provide software, giving IFAs free access to mortgage and insurance products.

The move comes as Mortgage Brain integrates its software with Paymentshield&#39s Inertia quotation system which currently gives 12,500 intermediaries access to a range of general insurance and protection products from a selection of firms.

When processing Inertia insurance proposals through Mortgage Brain, intermediaries will get a £7.50 credit against their £29.95 monthly Mortgage Brain subscription and will ultimately get the service free.

It decided to link up with Paymentshield because it gives access to several big insurance providers rather than just selling its own products.

It says brokers can now use Mortgage Brain as a one-stop shop for mortgage and insurance products to give clients instant quotes and decisions.

Paymentshield is starting a series of UK-wide roadshows this week to promote the new service to intermediaries.

Mortgage Brain chief executive Mark Lofthouse says: “This is a tremendous offer for intermediaries as not only do they benefit from the innovative and all-encompassing sourcing cap ability but they can now access the leading insurance products and transfer client information directly between the two systems.”

Paymentshield marketing director Gareth Riding says: “This initiative offers intermediaries the best of both worlds – it is now possible to provide compliant mortgage illustrations and competitive insurance quotations though one fully integrated system.”

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