SMS launches direct to lender mortgage club

Solent Mortgage Services has launched a direct-to-lender mortgage club, 1st Source Direct.

The facility gives SMS brokers access to 56 lenders as well as a number of exclusive products.

It marks a shift in the emphasis SMS places on lender choice as well as offering more submission options to its supporting brokers.

Brokers now have access to a whole of market proposition all accessed through the SMS extranet and website.

So brokers can access lenders from across the board for KFIs and AIPs and cases can be submitted through Mortgage Trading Exchange for most lenders.

Paper applications will carry a 1st Source Direct sticker and the club is established on all panel lender websites as a distributor choice for online cases.

Ian Balfour, sales and marketing director at Solent Mortgage Services, says: “We at SMS have always shown both a desire and an ability to adapt to changing markets and trading conditions.

“The already vast direct-to-lender market continues to do well, in what has generally been a difficult year.

“Our brokers have previously been forced to deal with our competitors in order to place this business, but with todays launch of 1st Source Direct we now have our own 56 lender mortgage club panel offering competitive broker fees and a good range of exclusive products.”