Technology in the Mortgage Market

It’s been thirty years since we first introduced our mortgage software to the market, and it has been a vital tool which has revolutionised the industry in terms of technology ever since.

Technology is constantly evolving in its nature, but its particularly interesting to see it used so much in an industry that has, for the most, part stuck to what it knew best and not ventured into unknown territory.

But where can it go from here? And will the mortgage industry be as happy to welcome yet more changes?

Thankfully, we can hope that, because it has become accustomed to new technology before, the industry will be more likely to welcome future technological developments.

Where did it begin?
In 1986, we introduced the first ever piece of mortgage software, but with some drawbacks due to technology itself still evolving into the type of system we needed for it to really take off.

Fast-forward to 2004 and M-Day, which propelled the mortgage industry forward in terms of technological advancements. It revolutionised the way brokers worked, however, the sceptics were out in force: asking how the existing mortgage systems would cope with new demands.

As we know, it did more than just cope, leaving the mortgage industry and the brokers working within it a bit happier about the idea of using technology in their line of work.

But where are we now?
After M-Day, technological advancements took a giant leap; it allowed us, and other mortgage solution suppliers, to create systems which were faster working, easier to use and up to date – waiting times became a thing of the past, and the client became more involved with the introduction of social media, apps and bigger and better websites.

And what do we predict for the future?
Technology is a hard one to predict: faster software, holograms, robots – who knows?!

It does seem that as time goes on, the industry is more accepting, and welcoming, of technological advancements, especially if it makes their job smoother, quicker and easier – as that usually means more business too!

Following on from M-Day, and 2014’s Mortgage Market Review, this year’s Mortgage Credit Directive requirements have enforced more change in the market.

In five years’ time, we think there will have been various advancements, including:

– More systems integration
– Integrating the tablet more
– Remote video – Skyping your broker!
– The (further) rise of Apps

After that, who knows! Technological advancements mean that exciting times are ahead for the industry, and for MortgageBrain too. We can’t wait to see what the future has in store – even if it is robots!

ConveyancingBrain

Introducing ConveyancingBrain – the efficient and smart way for mortgage brokers to earn money from conveyancing!

The market has changed dramatically over the past few years, with 2014 research conducted by YouGov showing that 4 out of 10 customers want access to conveyancing services online.
That’s one of the many reasons why we decided to create ConveyancingBrain; a customer-focused system offered solely for mortgage brokers. It helps customers find a solicitor, that your recommended lender accepts, and who also offers good value for money.

Why conveyancing?
It is proven that the shorter the transaction time, the more likely a property purchase – and therefore a mortgage application – will go through. ConveyancingBrain is an efficient, safe and trusted system that allows for a swift process from beginning to end.
The system is available free of charge, and features a simple registration process offering instant access to conveyancing quotes and ongoing cases.

How does it work?

You can register as a new user on the website in a matter of minutes and begin straight away. You only need to log in once, and you then remain signed in, and can use your account to carry out a variety of different actions, including:
– Generating quotes
– Viewing and saving quotes
– Accessing case progress reports
– Setting default referral fees
– Adding and amending account and bank details
– Viewing all the solicitors on our panel
– Viewing your payment history
– Viewing all messages sent to and received from your clients.

Your customers are able to choose a solicitor according to geography, price and customer satisfaction results. All our solicitors hold Conveyancing Quality Scheme (CQS) accreditations, as well as all being tailored to lender panels.

What are the benefits?
You can earn up to £300 per case, with ten cases a month at a referral fee of £150 each earning you £18,000 a year. The broker fees are also paid directly to you, and you can alter your referral fees on a case-by-case basis.

We offer constant support with any questions and queries you may have, both online and over the phone. In addition, we run free ten-minute webinar sessions every Friday to learn more about how to earn from conveyancing.

You also get a free ConveyancingBrain plug-in for your website in order for you to attract more customers. The plug-in is designed to allow potential clients to obtain quotes, and instruct a conveyancer directly without any intervention from you.

Why ConveyancingBrain?
During the first few months of its general release, over 500 brokers and financial advisors signed up to ConveyancingBrain and began to reap its benefits.

Around 50 brokers per week are now signing up to the new system, which offers brokers a safe and trusted process by which they can earn additional income in a safe, secure and effective way.

For more information about ConveyancingBrain, and to register and begin earning money today, please visit our website at www.conveyancingbrain.co.uk.

Alternatively, you can contact us directly by calling 0371 200 0655 or by emailing info@conveyancingbrain.co.uk.