The lender has been working with Trigold for the past few weeks to make sure the systems are compatible with its range. Mortgage intermediaries will be able to complete factfinds, and access data verification, Key Facts Illustrations (KFIs) and electronic applications.
Coventry expects its products to go live ?? and will allow it to be compared by brokers against other non-conforming products.
Colin Franklin, head of sales at Coventry Building Society, said: “As a lender, it can be frustrating when you create new product innovations, which are unable to be reflected accurately on an advisers’ sourcing system. The sourcing of specialist mortgages required a system provider to ‘raise the bar’ in terms of sophistication and the ENC system offers just that. Advisers need accurate tools in order to make well-founded, compliant recommendations and this is exactly what Trigold offers.”
Bill Safran, CEO of Trigold,
said: “The dark age of non-conforming sourcing is over and specialist lenders with vision are shaping the future of the market. Over the coming weeks we will be integrating the finer points of the products and criteria into the ENC engine to create a new level of accuracy and confidence in product sourcing. ENC is as strong as the lenders supporting it and our users will be delighted that Coventry Building Society’s mortgage products are listed.”
Mike Fry, director at Halton Insurance Service, said: “It’s imperative for specialist lenders to be on sourcing systems because unless they are flagged up, you might miss them. Everyone knows BM Solutions and GMAC-RFC, but you might pass over one like Coventry Building Society so it’s definitely a step in the right direction.”
