Acre to complete £20bn in mortgages as more brokers choose the intermediary platform
17 July 2024
17 July 2024: Acre today announced it’s seen platform usage double in the past 12 months. In a year that saw Consumer Duty come into effect, interest rates rise and drop in mortgage lending, more brokers than ever have switched to Acre’s all-in-one intermediary platform to help ease workflow inefficiencies, grow their business and deliver exceptional service to homeowners. Acre’s 2.5x growth means it is on track to complete £20bn in mortgages this year.
Acre has also seen the number of mortgage cases with at least one protection product attached double. This growth in protection penetration is driven by a combination of economic tremors rocking consumer confidence and firms stepping up their Consumer Duty responsibilities. Acre expects these factors to continue to drive more brokers to protect clients and their families from unexpected risk in the coming months.
Greater tech adoption and integrated workflows have helped firms using Acre improve efficiency, increase conversion of leads and strengthen relationships between advisor and homeowner. Recent platform enhancements – including giving homebuyers more help and context in Acre Client Portal; conveyancing updates; improved sourcing and affordability capabilities; and Acre’s unique case history ledger – have been made with the broker’s workflow in mind, to maximise the result of each case, secure the best product for clients and meet compliance requirements effortlessly.
Acre also continues to integrate with other fintech innovators and major lenders to further improve the mortgage journey. This year saw several key integrations go live including Nationwide Building Society, payments firm GoCardless – helping brokers seamlessly collect service fees, HoneyLegal to cover will and life planning and with Iress for mortgage sourcing data and Lender Connect.
Acre is on track to exceed its own target of 5% of new mortgages written using the platform this year. Firms and networks choosing Acre this year include Paradigm, MMD, The Right Mortgage, Brilliant Solutions, Koodoo, Better.co.uk (Trussle) and Acumen.
With no signs of slowing down, the UK’s fastest growing intermediary platform will continue rapid innovation and evolve the platform to address the ever-changing needs of brokers. Looking ahead, Acre expects to introduce tools like a Consumer Duty Dashboard and introduce new AI-based capabilities to automate document categorisation and income verification.
Justus Brown, CEO and founder of Acre, said; “The last 12 months have been defining for Acre. The team’s hard work in delivering an impactful technology platform that improves brokers ways of working and adds value to the service they offer homeowners and their families is receiving broad recognition from brokers, mortgage network and clubs, lenders and the broader fintech ecosystem. In the toughest of times when interest rates were rising and products were being pulled, Acre’s brokers were able to use our platform to work smarter in order to secure clients the best mortgage and protection deals for them within a few clicks.”
Nicola Ventrella, Operations Director at The Right Mortgage, added: “Making the move to a new CRM system is never easy. However, we saw how Acre’s capabilities were rooted in a refreshing, tech-driven approach that would future proof our business. It delivers a valuable time-saving and supports the delivery of positive consumer outcomes for our advisory firm members which is why Acre is now our key software, providing our advisers with one place to manage the entire mortgage journey from start to finish.”
