Vince Sammon, the director of Sammon Mortgages (pictured) has announced plans to launch his new company, Ladder, in mid-February.
Two years in the making, Ladder is a hybrid mortgage broker built around an online platform that, Sammon says, is focused on speed and completeness, and designed around a mortgage broker’s workflow.
He adds that the technology behind Ladder contains features unique to his offering, including a built-in credit check to ensure that “recommendations are feasible”, a digital verification method that involves clients scanning documents, and an automatic quote for life and contents insurance.
Powered by Twenty7Tec and sporting a front end designed by Dock 9, Sammon says that the inspiration behind developing the new company and the technology driving it was his experience as a broker, where he thought that he was spending too much time dealing with paperwork when he could have been spending more time advising clients.
Sammon explains how when he first started developing the project, he envisioned it as being online-only. However, over time this shifted towards a hybrid model – the end result is that, as well as allowing users to seek advice entirely online, would-be borrowers can talk through the process with a broker over the phone.
Additionally, Ladder has organised meeting rooms hosted at shared working spaces throughout London, allowing borrowers based in the capital to go through the process with a broker in person.
The launch will be accompanied by a video campaign across social media.
Manging director Sammon says: “Ladder is not an industry disruptor, but an industry improver. As a highly experienced mortgage broker, I believe in the vital role a broker plays in the mortgage process.
“Ladder is not here to make the broker role extinct, but to lead the way in how it evolves. We may use state of the art algorithms, but here at Ladder the letter ‘A’ stands for only one thing, and that is ‘advice’”.
Twenty7Tec sales director Phil Bailey adds: “It’s great to see Ladder finally enter the market. Vince and the team have worked hard to match the traditional with the here and now, while keeping an eye on the future.
“Brokers and technology working together to meet the needs of their customers. A simple concept which many ignore. It’s been a real pleasure to support Ladder and see their vision evolve.”
Dock9 managing director Mark Lusted comments: “Ladder’s customers will benefit from a cutting-edge digital experience that strikes the perfect balance of automation and self-service with human contact as and when required.
“Vince and his team have shown bold vision and offer a great example of how incumbent brokers can adapt and transform, ready for a new generation of customers.”
The existing Sammon Mortgages business and website will co-exist with Ladder, with plans to turn the former into a more specialist broker over time.