Y3S Group and Pancredit have developed a system that will allow mortgage brokers and IFAs to source loan and mortgage products supported by a full credit search.
The two companies claim the system, which costs £9.95 per client, will allow financial intermediaries to obtain accurate, underwritten loan and mortgage plan quotes for panel lenders, supported by full credit search data. The intermediary can then print a full credit report with Equifax Insight data to support the applicant quote details.
They also claim that QuoteSearch is the first automated sourcing solution that is compliant with SCOR requirements for the use of credit data.
After an intermediary has completed an initial registration process with Y3S, their application is sent to the lender panel and Equifax for approval which takes around four working days.
Using the inputted data, QuoteSearch will leave a ‘soft’ footprint while sourcing the loan plans available. The plan will be displayed with repayments, wherever possible, and will offer introducers the opportunity to forward the case straight to the Y3S group.
Matt Cottle, commercial director of Y3S Group, said: “With the prospect of green shoots on the horizon