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Over half of IFA lenders sign up for Assuresoft&#39s online mortgage service

Assuresoft claims its new mortgage service has won the backing of more than half the mortgage companies lending through IFAs.

It says Alliance & Leicester, Bank of Ireland, Bank of Scotland, Halifax, The Mortgage Business, Northern Rock, Scottish Widows, Standard Life Bank and Woolwich have all signed up to its Assureweb mortgage service.

The mortgage-sourcing tool for intermediaries is expected to be rolled out over the next few months. It will offer online applications, criteria checking and case tracking.

Assuresoft has demanded a join-up fee from each provider which it claims will encourage them to be more committed to the service. Lenders will also pay an annual fee but the service will be free to IFAs.

Managing director Mark Lofthouse says: “We believe the lenders who have signed up represent over half the new business mortgages delivered by intermediaries. Together with lenders, we are developing and delivering a solution to offer all parties an improved service and reduced costs.”

Woolwich senior product manager Andy Gray says: “We are keen to develop online mortgages, so the partnership with Assuresoft speeds up this process. It allows IFAs to submit business to us rapidly and we think it is the way forward.”

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