Encore is now providing intermediaries access to every UK lender and over 4,000 products.
In light of forthcoming mortgage regulation, 'Compliance Manager' is added software that will guide an Encore user through the mortgage sourcing process and ensure all processes are completed in a compliant manner. It will also log into an electronic audit trail which can be recalled and checked at any time. The system will be updated to encompass all future mortgage regulatory changes which will include Initial Disclosure Documents (IDD) documents and Key Facts Illustration (KFI).
Sean Hornsby, Head of Sales and Marketing at Mortgage 2000 said: "With the onset of new regulatory processes, it is of paramount importance that our users are fully geared for this. Technology and innovation never stops and therefore the Encore user will also see several new features and functions on the system that will make the sourcing process faster and moredetailed than ever before."
Another new feature is the "Flexible Mortgage Calculator". This is designed to work with any flexible, offset or current account mortgage and will enable the Encore user to provide illustrations showing the effect of over-payments, payment holidays and lifestyle events, such as paying for school fees or a wedding.
Sean Hornsby added: "Most flexible mortgage providers have software which only caters for their particular products. While in some instances these individual calculators have been integrated into some sourcing systems, with the ever growing number of providers entering this market, this situation is unworkable for the future. We have designed and built an all encompassing calculator that caters for all product types and can be used on a stand alone basis if required. It is unique to Encore and cannot be found in any other sourcing system."
Encore, which already features full MTE integration, will also now provide the following benefits:
- Access to multiple general insurance sourcing providers. In addition to The Source, there is now access to Ceta, Paymentshield and Select & Protect. This will mean that any details that are collected in the sourcing process can be used to populate details in any of these providers' software - saving brokers' time and effort.
- Integration of 1st Software system - a programme used by many intermediaries as a client management tool. Any client details that have been stored in 1st Software's database can quickly be accessed and used in Encore's sourcing process.
Sean Hornsby concluded: "Since the launch of Encore nearly six months ago, we have had fantastic feedback on the quality and efficiency of the system. As ever, we strive to offer intermediaries the most comprehensive sourcing system in the market - and with these new features and developments, we continue to deliver."
Anyone interested in finding out more about Encore, including current Mortgage 2000 sourcing system subscribers, should call 0845 345 5711 or e-mail [email protected] or visit www.mortgage2000.co.uk
