Use technology to rebuild the market


It was good to see Halifax launch its new intermediary online system recently, as lenders investing capital in new systems are few and far between at the moment.

In tough economic times the natural tendency is to conserve as much money as possible, and along with the marketing spend the technology budget is usually one of the first to get the chop.

I’m a big advocate of using technology intelligently to improve efficiency while making users’ lives as straightforward as possible.

The feedback I get from brokers about online mortgage platforms is that they should give quick decisions, be easy to navigate and have live case tracking updates and other useful information to hand.

We have invested a lot of time and effort in ensuring that we deliver what brokers want in this regard.

In fact, we recently completed an exciting development that should help everyone in the market.

It is based on making our mortgage platforms available to third parties, including origination through intermediaries.

I often write in these pages about the lack of funding available for the mortgage sector and this is an alternative way of tackling the same problem.

If we can make it easy for new money to enter the mortgage space by the efficient and intelligent use of technology perhaps we will be able to find new ways of helping to rebuild the mortgage market.