Mortgage Brain launches comprehensive Coronavirus information and news centre

20 April 2020

UK, April 20 2020: Mortgage technology expert Mortgage Brain has launched a new single reference point for intermediaries to help them keep up to date with product and policy changes being made by lenders and up to date news as the market continues to adapt as a result of the Coronavirus pandemic. This new reference centre is free of charge and can be plugged in to the many ‘coronavirus hubs’ that have or are being set up.

Intermediaries have had to grapple with significant changes across the industry since the pandemic took hold in the UK, with dramatic reductions in the numbers of mortgage products available and significant changes being made to lenders policies and criteria for new and existing customers.

To assist brokers in keeping on top of these changes, a new section on the existing Criteria Hub site has gone live today, featuring three key data feeds. The first feed will be a set of 19 FAQs covering developments in lenders’ policies, such as changes to income assessments and the use of automated valuation models. This feed will be powered by Criteria Hub, and has been constructed based on feedback from both intermediaries and lenders.

In addition, there will be a second feed, updated daily, to highlight specific product changes made by lenders, powered by Mortgage Brain. Finally the third feed will consist of industry news stories, provided by the leading trade publication Mortgage Solutions that will help provide intermediaries obtain a holistic view of all news stories that may potentially impact their customers.

Intermediaries will not be required to register in order to gain access to the feeds, meaning that they can benefit from this invaluable information source even if they are not currently users of Criteria Hub at no charge.

Richard Merrett, Head of Strategic Development at Simply Biz Mortgages, added: “We are delighted to partner with Mortgage Brain in delivering a criteria, product and news feed to keep advisers informed as the market responds to the current challenges. The ability to capture all of this information in one place is a fantastic support resource to help with client solutions, and will save considerable time and effort in the research process. This fits perfectly with the ethos of our recently launched SimplyBiz Mortgages Solution Hub and will be crucial in allowing advisers to spend more time on helping more customers and creating as many good outcomes as possible.”

Mark Lofthouse, CEO of Mortgage Brain, said: “The mortgage landscape is moving at a rapid pace as a result of the pandemic, with intermediaries having to keep on top of vast numbers of product and criteria changes on a daily basis. We are committed to easing that burden by developing this single point of reference, arming them with the information they need to continue providing the advice and guidance which borrowers rely on.”

The new Coronavirus information centre is the latest initiative launched by Mortgage Brain to support intermediaries during this testing time. It follows the move to make Criteria Hub, the criteria-based sourcing solution, available to new customers for at least 90 days at no charge, as well as allowing intermediaries using the desktop sourcing system MortgageBrain Classic to have either the online sourcing solution Mortgage Brain Anywhere, or another laptop licence for MortgageBrain Classic, for at least 90 days with no additional cost.