The new function accessed from the systems’ edit client screen and will allow brokers to search by the type of scheme and also by the percentage share required. This means enhanced sourcing accuracy and a greater likelihood of finding the right shared ownership or shared equity product first time.
An increasing number of properties on property portals such as Rightmove are advertising properties for sale under shared equity and shared ownership schemes. The government is also putting its weight behind this with a range of schemes including New Build HomeBuy, Open Market HomeBuy and HomeBuy Direct which is backed by £300 million of Communities and Local Government funding.
David Aylmer, marking director at TrigoldCrystal commented: “The increase in schemes for shared ownership and shared equity is good news for first time buyers as well as builders and the wider housing market. Historically it has been challenging for brokers to research mortgages of this type, not least as there were so few available. However, the growth of schemes has been such that there is now the need for an accurate sourcing tool.
“Our commitment to brokers is to provide them with the tools that they need to do business and so we’re delighted to launch this enhanced system. This will enable brokers to add another product area to their business and could use this as the basis of increased promotion in their local area or via their website. The increase in such schemes is also good for the wider market as such schemes will release builders’ funds that have been tied up in properties that they cannot sell. Hopefully this will result in more properties being built which consequently means more mortgages required to fund them.”
