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.”