Lenders responsible for circa 70 per cent of all mortgage business in the UK are now live on mte.
Following the recent launch of mte ‘standalone’, every introducer in the UK is now able to transact mortgage business, in a similar way and from one place, with 20 lenders who account for the majority of mortgages sold in the UK. mte is simple to embrace, easy to use, efficient and negates the need for introducers to use lots of disparate lender websites and services.
“The success of mte is phenomenal, since its launch it has been wholeheartedly embraced by lenders and introducers alike”, commented Mark Lofthouse, CEO of the Mortgage Trading Exchange. “It is currently being used by thousands of introducers who send over 3,000 transactions per week to lenders, representing around £20 billion worth of mortgages per year. With the addition of Norwich and Peterborough Building Society, Scottish Widows Bank and the fact that the platform is now available to every introducer in the UK, the benefits are being realised by more and more introducers and lenders every day”.
Stewart Hunter, head of introduced mortgages at Norwich and Peterborough Building Society commented: "We are delighted to be live on the Mortgage Trading Exchange which makes electronic trading with Norwich and Peterborough products available to thousands of introducers. We are expecting to see a substantial shift away from paper based applications to electronic as the benefits of the fast and efficient 'right first time' process are realised by all concerned.”
Lenders currently live on the Mortgage Trading Exchange account for circa 70 per cent of mortgages placed in the UK by intermediaries, include:
Alliance & Leicester Halifax Scottish Widows Bank
Bank of Scotland Hinckley & Rugby Standard Life Bank
Chelsea Building Society Nationwide The Mortgage Business
Cheltenham & Gloucester NatWest The Woolwich
Clydesdale Northern Rock Tipton & Coseley
Coventry Norwich & Peterborough UCB Homeloans
Furness Royal Bank of Scotland
Additional lenders that are committed to the Mortgage Trading Exchange are:
Accord GMAC Residential Funding The Mortgage Works
Advantage Homeloans Intelligent Finance West Bromwich B. Society
Bank of Ireland Portman Building Society
Derbyshire B.S. SPML
First Active Stroud and Swindon
