View more on these topics

CD to help brokers pick deals

Three brokers have joined forces to develop an easy to use CD program to help brokers quickly come up with the best mortgage option for a client.

Mortgage Minder allows brokers to enter a client&#39s details, track any changes to their client&#39s mortgage and create a &#39what if&#39 scenario which will produce various models showing the effect any changes could make to how much the client pays.

The system has been under development for the past 15 months by Rob Gill, Alan Symons and Richard Hurrell of South-West-based Mortgage Advisory Services. All three are still active brokers.

As well as a time-saving device for brokers the system can also be used to manage client endowment shortfalls or to develop a client&#39s buy-to-let portfolio.

MAS is also looking at incorporating equity release via updates from its website www.mortgageminder.co.uk.

Hurrell says: “With this program you can immediately demonstrate to a client how they would be better off with a different product. The information generated can be printed off and used to cover the broker&#39s back for compliance purposes.”

The CD will cost £75, with a yearly corporate licence also available for £25.

The package will be available to consumers to help them break out of the &#39apathy bubble&#39 and remortgage from expensive SVRs.

Hurrell adds: “If only 10% of borrowers use this and realise that they need to change their mortgage, that&#39s 10% who weren&#39t going to remortgage before.”

John Stewart, director of PMI Independent Financial Advisers, says: “Without seeing it, whether we&#39d want to pay money for something that we didn&#39t need before is questionable.”

“However, from a convenience point of view, having a single point of reference to analyse products would be useful.”

Recommended

Moneyfacts incorporates Mortgage Hub into all systems

Moneyfacts Mortgage Hub enables the broker instantly to access the intermediary services provided by each lender whether it be online KFIs, approvals in principle, online applications or case tracking. Moneyfacts Mortgage Hub lets the intermediary see immediately what services each lender offers. With less than two months to go until Mortgage Day there is a […]

Platform receives grant of permission letter from FSA

Consequently Platform is anauthorised company with effect from October 31, 2004. The news supersedes notice of Platform&#39s minded to approve letter, which the lender received in August. Platform is one of the first lenders to have received confirmation from the FSA of its regulated authorisation. David Tweedy, managing director, at Platform, says: “We are very […]

BDS Mortgage Group adds Northern Rock to direct panel

This addition takes the total number of lenders and product providers available through BDS to 45. It is currently in discussions with many other lenders and will release information about additional relationships in the future. Procuration fees and submission details are available upon request. BDS has now received its full authorisation notification from the FSA, […]

Sally Laker first to feature on personal finance radio programme

The first programme will focus on remortgaging. Stations have three format options. They can take a fully pre-packaged programme from Llewellyn-Slade PR, they can pre-record an interview with the expert or interview them live. LBC, which broadcasts in the London and M25 region, and SAGA ,which broadcasts nationally, are expected to run the interview this […]

9 October thumbnail

Johnson Fleming set to host webinar on auditing auto-enrolment schemes

With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.

Newsletter

News and expert analysis straight to your inbox

Sign up