Workload Financial Business Consultants – the firm which produces Touchstone databases – has signed up four mainstream mortgage lenders to share information on brokers' revenue streams and client profiles.
Workload says it has signed up Halifax, Woolwich, Standard Life and Abbey to its service, with letters of accord signed with Northern Rock, Alliance & Leicester and Royal Bank of Scotland. About 12 other firms are interested in the proposition.
Touchstone databases are used by a big number of life and pension providers and, as reported in Money Marketing last week, the company is about to launch a proposition for the mort-gage market.
The new database will enable lenders and brokers to evaluate their own market share and see which inter-mediaries are doing the most business.
Abbey media relations executive Helen Tochel says: “Abbey for Intermediaries currently uses the existing Touchstone database to gain valuable analysis on the life, pension and investment markets.
“We are assisting Work-load with the development of the new Touchstone system for the mortgage market and we will continue to work closely with them as the system develops.”
Standard Life Bank cor-porate affairs manager Angus MacLeod says: “We have joined Touchstone and we think it will be a very useful tool for improving our offering to introducers.”
Workload managing director Mark Hamill says: “Prime, sub-prime and self-cert prov-iders have expressed support for any initiative which will help them to better service mortgage brokers in the pre and post-regulation market.
“Industry commentators suggest that the industry is having substantial difficulty in predicting the effects that mortgage regulation will have on distribution. Touchstone Mortgage will remove much of this unknown.”