Mortgage Brain launches second charge sourcing system

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Technology provider Mortgage Brain has launched a whole-of-market sourcing system for second charge loans.

Loansbrain.co.uk is free to brokers and offers “quick and detailed” second charge sourcing, according to the firm.

Brokers can either use the system to advise on second charge loans themselves or use it to refer the client’s details to a master broker.

Mortgage Brain chief executive Mark Lofthouse says: “We’re delighted to announce the launch of LoansBrain. As a business we have seen many major regulatory changes and have worked hand-in-hand with brokers and lenders to provide market leading technology solutions that not only meet but far exceed the minimum regulatory requirements.

“We did it in 2004 with the introduction of regulation on MDay; we did it again in 2014 with the new MMR rules and, with the launch of LoansBrain and enhanced MortgageBrain sourcing, we are doing it again now with the introduction of the Mortgage Credit Directive.”