Mortgage Brain to launch business to consumer sourcing system
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Mortgage Brain is planning to launch a web based consumer sourcing system which brokers can upload and use on their websites.
The new consumer facing sourcing system, Mortgage Brain B2C, which is due to be launched in early 2010, will allow consumers to source, compare, select and enquire about mortgages.
The system incorporates personalised best buy tables and will allow consumers to carry out an initial search, with the capability to produce fully compliant KFIs and to request help from a mortgage professional also available.
Mark Lofthouse, chief executive officer of Mortgage Brain says the system will not be in competition with brokers and will only be available for use on a mortgage broker’s website and sites used by lead generation firms.
He says it will not act as a standalone site in a similar way to Moneysupermarket.com.
Lofthouse says: “As this is part of a brokers website any enquiries and leads will go where the broker wants them to go - presumably to the broker for follow up to do a proper advised sale.”
Mortgage Brain B2C will be available either as a customisable ‘plug in’ built to fit into an existing website’s design or via web services where the screen design and layout is built specifically by the website owner.
Lofthouse says: “Like our all new sourcing system for intermediaries, Mortgage Brain B2C delivers capabilities that are simply not available anywhere else and is set to take consumer mortgage sourcing to the next level.
“The result is a comprehensive online sourcing system that has been designed specifically with the consumer in mind. It covers the whole of the market, is easy to use, incredibly accurate and will offer consumers the certainty and confidence that they’re sourcing a mortgage that best suits their needs.”
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Readers' comments (64)
GERRY CAMPBELL | 2 Nov 2009 11:22 am
Another stab in the back...outrageous!
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Cath Ball | 2 Nov 2009 11:30 am
So we pay our subscriptions for MB to help consumers do without us - genius!!!
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Anthony Clegg, Scales Porter | 2 Nov 2009 11:32 am
as usual no thought for the broker. talk of proc fees disappearing and now this. are our days numbered?
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darren | 2 Nov 2009 11:34 am
so anyone paying for mortgage brain has helped this happen.....
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Alex Alecou | 2 Nov 2009 11:35 am
Ridiculous whats the point in studying for exams and taking time to recommend products if a website is being set up to cut us out, Shall we retire or are we still here as information stations for the public then they go direct
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Keith Glassock | 2 Nov 2009 11:38 am
maybe its time to charge Mortgage Brain a fee when we use their service to recommend
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Harry McGinn | 2 Nov 2009 11:39 am
Thank you Mortgage Brain. Perhaps all the intermediary subscribers to their system should vote with their feet and move to other systems, like Trigold.
This is just another nail in the intermediary coffin.
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Tim Robinson | 2 Nov 2009 11:40 am
Unbelievable, sorry who owns Mortgage Brain!!!
I suppose this is MB's way of thanking the intermediaries for their past support.
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mortgagemicroscope | 2 Nov 2009 11:41 am
This is incredulous and shows the depthof their support for intermediary mortgage specialists. If consumers do not want to take advice then they go to their Banks or a comparison website. If they want to take advice they pick up the phone. If we are here to help why add a comparison site link to your website...just where are you adding value with this ??
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William Kingsley | 2 Nov 2009 11:41 am
Any broker using mortgage brain should stop immediately and use another sourcing system. Their actions are appalling.
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