Product availability soars throughout 2011

The number of mortgage products available to UK mortgage intermediaries has soared during the past 12 months, according to figures released from Mortgage Brain’s Monthly Product Analysis.

An 87% increase (over 6,500 new products) in product availability has been seen in the UK mortgage market during the past year, taking the total number of live mortgage schemes listed on its market leading mortgage sourcing system from 7,519 to 14,052, as of 5th December 2011.

Ten consecutive monthly increases played a key role in the rapid and substantial rise in product availability throughout 2011. Slight declines were seen in October and November; however, the overall yearly performance for 2011 has been the best in over three years when product availability dropped three times throughout the year in 2010 and five times throughout 2009.

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Ingard – Pulse Newsletter – December 2011

Welcome to the Christmas and final edition of the Pulse for 2011.

Who would’ve thought in January that at the end of the year Base Rate would still be at 0.5% and the Government would sell Northern Rock to Virgin Money at a loss of £400m?!

Some of the UK top lenders speaking at the recent Mortgage Business Expo in London predicted that interest rates will not increase until at least 2013. The mood at Expo was much more positive and upbeat than in the last few years. More exhibitors, particularly lenders were in attendance and keen to talk.

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The 2011 IT Benchmark Study

Frank Eve, managing director of Frank Eve Consulting, outlines the results of the annual Benchmark Study comparing lender online distribution and application processing technology.

Technology within the mortgage market has changed out of all recognition over the last decade. Ten years ago discussion revolved around whether brokers would ever complete application data online and how many actually owned a personal computer. Fast forward to today and all application data is keyed online, every lender operates automated decision and underwriting systems integrated with credit reference agencies to provide online in principle decisions, and all intermediaries have to have a personal computer and access to the internet.

During this time Frank Eve Consulting Limited has produced an annual Benchmark Study comparing lender online distribution and application processing technology. The study, in its 10th year, has become the industry’s definitive survey of mortgage distribution and automated underwriting technology.

The objectives of the study have remained the same over the years – to assess market conditions in the light of the industry’s ongoing technology requirements and set the standard for emerging best practice in lender intermediary technology, as well as assisting lenders in understanding their competitive positioning.

Over the last few years the study has expanded to obtain intermediary feedback on lender distribution technology. Three separate pieces of research were undertaken this year, which when combined provide a unique assessment of emerging best practice in intermediary distribution technology.

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Mortgage Brain set to acquire MortgageStream

Mortgage Brain, the market leading mortgage technology solutions provider, has announced that it has agreed the terms to acquire point-of-sale and case management provider, MortgageStream.

The acquisition, which is expected to be concluded within the next few months, will mean that MortgageStream’s customers will have direct access to multiple product channels including mortgage sourcing, e-trading, website provision plus a wide range of business partners offering cross sales opportunities.

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Your complimentary place at The Mortgage Event

In less than a month’s time, The Mortgage Event will travel to four different locations around the country – bringing the industry’s leading figures to a venue near you. Each programme is specifically tailored to address the current issues and concerns facing mortgage professionals in the area.

The Mortgage Event will be visiting:

• Bristol, Marriot City Centre – 7th December
• Reading, Royal Berkshire Conference Centre – 8th December
• Manchester, Hilton Manchester Airport – 14th December
• Durham, Radisson Blu Durham – 15th December

These concise morning events will include:

• Keynote addresses from acknowledged experts in the industry – and your chance to
question them directly.
• A combination of informative presentations and interactive Q&A sessions.
• The chance to network informally over a complimentary breakfast.
• The opportunity to claim 15 CPD points for attending.

The Mortgage Event is free to attend, but only limited spaces remain.

Click here to book your place!

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