Advantage Home Loans has launched a complete sub-prime online mortgage solution – e:valuate.
e:valuate is an electronic trading platform that simplifies the sub-prime mortgage product search and selection process for brokers – acting as a one-stop shop with access to six branded product ranges plus the remaining Advantage sub-prime lending panel. This equates to over 2,000 products.
Accessible via the Advantage website www.afg.co.uk, e:valuate takes information from a single decision in principle request and provides the broker with an evaluation table of product matches (including binding decisions), across the Advantage panel of lenders.
Brokers have the choice of option A, and search for a binding mortgage decision on branded products via panel lenders who offer this facility only, or option B, and search for a binding decision plus the best of non-binding decisions from Advantages complete sub-prime panel.
The broker is able to view information on each of the products selected at any time and to move on to producing a KFI when appropriate. The system also provides a valuable audit trail for the broker.
Data entered for the DIP request can be stored, saved and retrieved at any time. It also pre-populates into Advantages online generic application form (accepted by all panel lenders) once the client is happy to proceed.
Peter Bass, head of sales at Advantage, says: “The benefit to the broker is endless. It has been well documented that the current sourcing tools do not cope well with sub-prime products and the e:valuate system not only sources from over 2,000 sub-prime products it provides ease of selection at DIP response stage too.
“Having all the information required to make the appropriate choice in giving best advice to the client is key and within a single interactive downloadable table all the information is immediately visible. How?
“Advantage provides the broker with product information to sign up a mortgage case in one simple online (printable) evaluation report. The broker does the evaluation to select the best possible option based on the clients needs, and in doing so can justify product selection.
“Advantage believes the e:valuate system enables brokers to convert sub-prime enquiries into completions and make more profit. It is a fact that where a binding decision is delivered at DIP stage the completion ratio rises considerably.”