Online chat room for brokers to be set up

Brokers will soon be able to share their experiences of lenders with other intermediaries in an online chat facility.

Jason Hegarty, a sole broker and mortgage adviser at Leiston Mortgage Centre, has founded 1BigTable.co.uk to provide a research facility and online community for mortgage intermediaries.

Hegarty is hoping the site’s facilities will help raise standards within the industry,

He says: “There’s nothing like this at the moment.

“Advisers tend to get into a comfort zone and only use the few lenders they trust. With this facility they can share their own and other advisers’ experiences and hopefully this will encourage them to branch out and try different lenders.”

As well as a live chat room where members can post queries and offer advice, the site will offer links to lender sites, a key detailing what is available from those sites and a star system that allows members to rate lenders.

Other highlights include a mortgage calculator, a postcode finder and links to online directories.

Roy New, a sole broker, says the site will be useful for brokers who work alone so they can communicate and share ideas.

He says: “Anything that makes the job of a broker a bit easier has got to be a good thing.”

Hegarty hopes the site will go live in January 2006.