"Each case is unique and there are, more often than not, factors that a system cannot pick up or be flexible towards."
The master broker has stressed that decisions should "still be made by CeMap qualified underwriters, not computers". It believes that although sourcing systems can help advisers quickly search and compare thousands of second charge products, "it’s the underwriters that ensure the proposed products have a customer orientated focus and provide them with affordable and sustainable outcomes".
Clever said that underwriting will become increasingly important as debt consolidation is being cited more and more as a decisive factor when selecting a second charge product.
Clever Lending added: "For those master brokers or DAs who don’t invest in the time to consider each case individually, and carefully, lending opportunities could be missed, as most negatives on a case or client profile, need to be fully understood before a final decision is made.
"Technology can’t always do that, so getting the broker, underwriter and the technology all working together and with the same aims is crucial for the success of these systems."
Sam Kirtikar, Managing Director of Clever Lending, said: “Investing in sourcing systems is clearly a good use of technical spend as it allows master brokers to provide introducers access to their lender panel products via a slick sourcing system and streamlined advised or packaged processes that will help product choice and underwriting during the application process. With that comes the added benefit of increasing awareness of second charges which many brokers and their clients may not have really considered before.
“But each case is unique and there are, more often than not, factors that a system cannot pick up or be flexible towards. Sourcing systems are a very useful tool to increase and illustrate affordable options and when this speed of comparison is backed up by a qualified underwriter we can move towards the goal of providing the most appropriate solution for the client. When launching our own Clever Sourcing system with Mortgage27tech, we ensured that it was always backed up with resource to handle case specifics and with hundreds of brokers already using the system it’s clear that brokers still want a quality, personal service when dealing with important client financial decisions.”
