The agreement came as a result of further intermediary research carried out by Alliance & Leicester (A&L) in which 607 brokers took part.
Data provided by A&L reported that 21.3 per cent of DAs and 20.4 per cent of ARs cited confidence in the accuracy of product data as the top element.
The availability of a KFI was seen as most important by 18 per cent of both DAs and ARs. Additional incentives such as free valuations totalled 15 per cent for ARs and 13.6 per cent for DAs with the headline rate also at 15 per cent for ARs but dropping to 12.9 per cent for DAs.
Ease of accessing information; products being verified by the lender; and accurate lending criteria occupied the bottom three slots for both ARs and DAs with results ranging between just below 13 per cent to 10 per cent.
Mehrdad Yousefi, head of intermediary mortgages at A&L, said: “Sourcing systems continue to be very popular with brokers and for good reason. The systems can save them precious time, make on-line applications easier as well as helping to meet compliance requirements.
“Of course accuracy of data is essential and the main sourcing systems have verification procedures in place to allow lenders to assist with this by checking the data displayed. Lender-verified products are easily distinguished to ensure brokers know which products have been checked.”
Ian Crampton, sales director at Ferndown Ltd, said: “I can’t disagree with the most important factors highlighted in the survey – sourcing systems are a key component of any brokers armoury.”
