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EDGE V2 offers online DIP

EDGE V2, the online sourcing and execution system from Enterprise, has now added a generic decision in principle facility for every lender on the panel that provides DIP options.

Once used, client information can easily be converted into a full online application, with no need for rekeying of data.

Harry Landy, managing director of EDGE, says: “At a time of industry turmoil, with rates and schemes being pulled with little or no notice, this facility will help brokers secure rates for their clients.

“One-time keying of client information has always been our ultimate goal and this enhancement brings us another significant step closer to this. We already have an online credit search and full application, both pre-populated by the sourcing information, so an online DIP is the final piece of the jigsaw.”

EDGE says it has 9,275 registered brokers across the UK, with more than 250 enquiries a day being processed.

Mint Financial Services recently adopted EDGE as its sales process for sub-prime mortgages, and another major network is expected to announce the same shortly. Sesame recently added Enterprise to its new reduced panel, largely because of the EDGE system’s provision of regulatory safety for sub-prime sales.

Michael Clapper, group chief executive officer of Enterprise, adds: “We have seen a huge appetite from brokers for online functionality and we now receive more than 75% of applications online via EDGEv2. Speed is of the essence for brokers to secure products for clients, so our online DIP facility is timely and bound to be welcomed.”


Agents lose faith in housing market

Estate agents’ confidence in the housing market plummeted last month, according to’s confidence index. This reveals a 22% fall in confidence among agents in March compared with February. Shawn Luetchens, managing director of the property portal, says the result is due to a seasonal slowdown plus negative media coverage.

Chancellor launches mortgage finance working group

Sir James Crosby will lead a group of mortgage industry experts, providing advice to the government on options for improving the function of mortgage finance markets, the Chancellor of the Exchequer, Alistair Darling has announced.

Media Frenzy

Last week went by in a media frenzy as the headlines were dominated bymortgage related stories. To be honest I enjoyed my trips to the BBC andthe visit by ITN as well as speaking to many of the national pressjournalistic elite.It is interesting to see their take on it and it does hit home how […]

64% Of brokers have reviewed their PI deals

A whopping 64% of Mortgage Strategy Online readers have reviewed their professional indemnity policies in the past six months. Just 36% have neglected to do so despite some PI in-surers revising their exemptions.This week, Mortgage Strategy asks: Do you think the Financial Services Authority should regulate individual brokers?Q: Have you reviewed your professional indemnity policy […]

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Fit for Work: guidance for employers published

On Friday, the Department for Work and Pensions published its guidance for employers on using the new Fit for Work (FfW) service to help ill employees return to the workplace. It also includes more details on the tax exemption for medical interventions that commenced on 1 January 2015.


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