Moneyfacts has introduced mortgage true cost calculations to its Market Intelligence Reports services in response to calls from lenders.
Alan Hough, sales director at Moneyfacts, says: “Many lenders have requested the inclusion of mortgage calculations in the Market Intelligence Reports. Moneyfacts is pleased to announce that all mortgage costs and fees for any customer type can now be integrated into any report.
“Feedback suggests that many companies are reliant on a mortgage sourcing system to constantly monitor how products rank by true cost over different terms. They attempt to create dummy client records in order to model a specific type of customer.
“Monitoring true cost over different terms for many different customer types can prove extremely time consuming and often mortgage sourcing systems do not really reflect a company’s own interpretation of products and customers.”