Newcastle Intermediaries has announced that its mortgage affordability criteria will be integrated with the SOURCE module from Twenty7Tec, making product choice simpler for advisors.
This decision comes in the wake of the partnership that Newcastle Intermediaries recently launched with Experian. This was intended to ensure that advisors are able to get product affordability calculations that have a greater degree of accuracy on behalf of their clients in the initial part of an application. The lender is stating that the Twenty7Tec integration will make the job of locating a suitable mortgage product quicker and easier.
The SOURCE module created by Twenty7Tec contains a wealth of data covering affordability, criteria and available mortgage products from a range of different lenders. It was built to streamline the process of finding the best mortgage for each client.
Speaking to Financial Reporter, Newcastle Building Society’s Intermediary Mortgages Head, Franco Di Pietro, said:
“We’re making a significant investment into our digital capability and this further integration with Twenty7Tec is another way we’re transforming our mortgage process to make business even easier for brokers.”
Di Pietro then added that the inclusion of affordability criteria would really make the early part of mortgage applications speedier and simpler, as well as reducing uncertainty for advisors and their clients.
Nathan Reilly from Twenty7Tec added that mortgage advice involved working out product availability, criteria and affordability and now all could be completed through one platform.
Advisors with CeMAP training are often very busy, so integrations that reduce the mortgage application process workload are always very welcome news.