Moneyfacts is setting up an internet portal for IFAs that will offer an information service and online quotes.
It will include a mortgage sourcing service, which the company says will cover all products from all lenders.
The site will give users access to an area that lets them view full commission details, a mortgage compliance centre and daily product selections.
It will offer searches on savings and credit cards and links to partner sites 1st Software and Select & Protect. Through a partnership with Webline, IFAs will get access to online comparative quotes and e-submission services for life insurance, critical-illness cover, family income benefit and mortgage protection.
Moneyfacts group chief executive John Woods says: “The launch of eMoneyfacts is timely for a number of reasons. The FSA's regulation of the mortgage market, the UK's current position in the mortgage cycle and even the implications of the recent Miles review all serve to increase the value to the intermediary to the independent comprehensive online service they can now access through eMoneyfacts.”
Financial Technology Research Centre director Ian McKenna says: “Moneyfacts are coming late to a relatively mature market where the main manufacturers have already chosen which set-ups they are interested in.
“The industry always benefits from competition but they will need to work hard to attract significant market share.”