New company, Softpackaging.com, launches today offering an online mortgage administration system which allows mortgage intermediaries to fully process a mortgage application through to offer stage. This groundbreaking technology is in the form of a unique web based system and will be the first of its kind in the market.
The system contains both the full criteria as well as the product information of lenders and guides intermediaries through the underwriting process. The benefit to intermediaries is that they maintain control of the processing of a case through issuing of references and all documentation, and in addition get paid for doing it. On average an intermediary will earn an extra £150 to £200 per case.
Softpackaging.com has been set up by directors of the Mortgage 2000 Financial Group and Sean Hornsby, Managing Director said: "Softpackaging is undoubtedly set to become a market leader as its advancement beyond other systems is clear. No one else has the same access to lender data, the packaging expertise, as well as the technology to compete with this."
The technology guides the user step by step through credit search to instructing valuation, backed up by on screen help and a specialist Support Team. The Softpackaging software will be directly linked with the Mortgage 2000 sourcing system so all information can automatically be pre-populated for maximum efficiency.
Softpackaging is a totally free system and pays out a processing fee for mortgage intermediaries using the system. Sean Hornsby added: "Softpackaging will obviously appeal to intermediaries who currently deal with packagers as it allows them now to earn extra income for work that in most cases they are already carrying out. However the beauty of the system means it will have broader appeal as the main reason many intermediaries will not use a packager is because of loss of control, and poor service. Softpackaging completely overcomes those issues."
The Softpackaging system will initially be available to all members of the new independent mortgage and general insurance network - M2i, and will be demonstrated at the M2i launch events over the coming months.
The dates for these are as follows:
10th November - London Millennium Mayfair Hotel
14th November - Birmingham Metropole Hotel
25th November - Bristol Marriott Hotel
27th November - Manchester Radisson Hotel
1st December - Glasgow Marriott Hotel
4th December - Newcastle Marriott Hotel
Mortgage Express is one of the lenders Softpackaging has access to, and Louisa Sedgwick, Regional Sales Manager said: "We are delighted to be involved in the Soft Packaging initiative as it will undoubtedly bring added value to the intermediary and to the relationship with the customer. It is undoubtedly a significant development at a time when electronic processes are high on the agenda and of course adds additional value to the m2i proposition."
To book their place at one of the above events, intermediaries should call Mandy Manning on 01244 665 700 or log on to www.mortgage2000.co.uk.
