blackandwhite.co.uk has co-developed and launched the specialist non-conforming mortgage sourcing and submission system called The Mortgage Portal for smaller mortgage brokers and IFA’s. This combines blackandwhite.co.uk’s service and non-conforming expertise, with a carefully crafted panel of non-conforming lending products. Competitive commissions, which are in many instances significantly higher than what’s on offer from some of the larger networks, will also be of interest to brokers.
The Mortgage Portal is claimed to be one of the most advanced software solutions available in the marketplace today, and having been co-designed by a mortgage broker for mortgage brokers should pay significant dividends.
Of particular note and benefit to brokers and IFA’s using the Mortgage Portal system is
- Online data capture in open standards with an integrated credit search is applied across all the lenders on panel to reduce cascading – in many cases this data transfer can be achieved via the brokers own back office system.
- Instant KFIs via electronic submission. The system ability to produce a fully integrated KFI from a broker perspective is seen as a huge advantage over many rival sourcing systems, and will save brokers a lot of time and frustration.
- real time case tracking to monitor individual case progress.
- The lenders on panel include Money Partners, Mortgages Plc, High Street Home Loans, Platform, Chelsea and Swift. It’s a very tight panel chosen by blackandwhite.co.uk for their ability to deliver first class service and the fastest possible turnaround times. It’s a panel that covers every non-conforming eventuality from ‘off white’ to heavy adverse – so rather than thousands of product choices which can be baffling and a compliance nightmare if you get the choice the wrong, The Mortgage Portal has several hundred product choices.
Blackandwhite.co.uk will be backing the advanced technology features of The Mortgage Portal system with its packaging team – underpinned with four non-conforming lenders onsite at its Staffordshire-based headquarters. Discussions continue with two other non-conforming lenders who wish to join the Mortgage Portal panel.
Lender support for The Mortgage Portal has been very strong, and the product has been soft launched after several months of rigorous testing. Adam Henry, sales and marketing director at Money Partners, commented: "Among many of the things we have in common with blackandwhite.co.uk is a shared view and understanding of the needs of brokers and their customers. blackandwhite.co.uk's commitment to satisfying these in every respect is second to none; and its deep and ongoing investment in people, products, processes and technology will ensure it remains the packager partner of choice for the discerning. We also share the view that service is one of the key differentiators in a market where products are becoming increasingly indistinguishable. Where many packagers simply talk about about 'service excellence', we know first hand that blackandwhite.co.uk delivers. We're immensely proud to have been chosen as a key lender partner at a time when the market is offering such huge opportunity."
Pete Thompson, sales director at Mortgages Plc, added: “Mortgages Plc is proud to count Black & White amongst our top introducers of specialist mortgages in the UK market. Blackandwhite's brand and reputation are second to none and this is the result of the hard work and dedication of their management team and advisers. We are delighted to be supporting them in their new developments in the intermediary sector via Mortgage Portal and think that the new technology they are bringing to the market will genuinely add value."
Brian Hall, managing director at The Mortgage Portal, said: "We are very excited to be launching this proposition with blackandwhite.co.uk. We have worked closely with them and their lenders over several months to deliver what we believe is the most advanced system. We think brokers using the system will be delighted with the results."
