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E-trading system for Nationwide

Nationwide will launch an e-trading system on January 16 to service it and its subsidiary UCB Home Loans.

The system has been designed as an alternative for brokers who don’t want to use Mortgage Brain’s Mortgage Trading Exchange or Trigold’s E-Trading Centre.

Mortgage Strategy revealed in August that Nationwide was looking at introducing the online platform as a way of maintaining service standards and improving all parts of its trading proposition.

While Nationwide’s merger with Portman and The Mortgage Works is not set to complete until September, the society says it has still to decide whether the two brands will be integrated onto the system.

Keith Astill, managing director of UCB, says: “We are delighted to be launching our online trading platform and look forward to unveiling our new look next week.

“We know that for brokers to keep doing business with us we must make our process quicker and simpler. We’ve been working with brokers on a number of facilities which should do this.”

He adds: “Our online platform will give brokers another channel through which to deal with us.”

Nationwide products will still be available on the MTE and ETC. The society will also be making changes to its MTE proposition.

Astill adds: “The online platform is just one of the enhancements we’ll be making. Brokers will still have direct access to our underwriters so we won’t be compromising the personal touch.”

Sole trader Roy New says: “The system will help brokers work out which Nationwide product is best suited to their clients. Anything that benefits brokers is good.”

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