The system will allow intermediaries to follow cases online at any time of the day and let them see details of their fees.
Doug Hall, sales director for Mortgage Choice, said: “Our solution is real-time, providing intermediaries with 24/7 access to up-to-date information in respect of all applications. The facility also logs procuration fees, providing intermediaries with an overview of income pending and to be paid. This facility is available to all existing and new intermediaries and all the intermediary has to do is visit our website and register.”
Hall added: “The feedback from our intermediaries on the online application facility has been outstanding and will give Mortgage Choice the ability to offer two scales of procuration fees – an enhanced scale for online submission and the current scale for paper-based applications. We may be one of only a handful of national packagers who can genuinely say by 2007 that 100 per cent of all applications are being received online.”
Rod Murdison, proprietor of Murdison & Browning, welcomed the facility and said it would be useful to brokers who wanted to track their fee payments for the cases they write. He said: “It is a great idea as there are many occasions when you want to see what’s happening with your procuration payment. Being able to see what you’re being paid is good, because cash flow is very important.”
Murdison added that the case-tracking option was also beneficial as it allowed access to mortgage case information around the clock. He said: “Real-time case-tracking is useful as many clients come to see you in the evening. But the fact still applies that an intermediary must ensure they do their research thoroughly first and not opt for Mortgage Choice just because of its facilities.”
