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New online mortgage company launched

A property investor has launched an online mortgage service with plans to create more than 40 jobs in the next 12 months.

Ian Davison has launched Reflex Mortgage Solutions based in Stockton on Tees.

Reflex Mortgages aims to process more than 600 mortgages in the first 12 months of trading, resulting in £90m revenue placed with lenders.

The broker services the general consumer and buy-to-let market.

Davison says: “We wanted to make applying for a mortgage easier for customers in today’s competitive marketplace and to push the parameters in the industry and challenge processes.”

“We have reduced the amount of paper work involved in the claim process and reduced the procedure time by applying streamlining measures. We have also barred brokers’ fees completely as they are unnecessary.”

Users can apply on-line for advice documents, calculate their potential loan and repayment amount, as well as apply for a loan.

Forms are signed and validated via a face-to-face meeting with either a Reflex Mortgage Solution representative or the customers’ mortgage adviser.

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