Orbiter launches innovative Total To Pay matrix

Launched this week, the innovative feature offers advisers a value-adding service for their clients, simplifying the comparison of TTP into an onscreen display or a simple printout, and further distinguishes Orbiter as a technological trailblazer.

With one click of a mouse, the Orbiter system produces a TTP matrix with simple traffic light colour coding to indicate the shortlisted products with the lowest and highest TTP at every month in the product’s life cycle. As every month’s TTP is listed for every product, the feature empowers the borrower in their decision making, thus strengthening the adviser’s proposition. The tool - which calculates not only rates but also features such as ERCs and cashback – offers an accurate assessment of relative ‘Totals To Pay’ at any stage in the mortgage’s life cycle, making it easier to compare the cost of redemption at any future date. The TTP matrix is the first of its kind across the sourcing system market.

Andrew Brown, Managing Director of Orbiter, says “Just as incorporating whole-of-market products and lender affordability calculations improved Orbiter’s sourcing scope and accuracy, tools like the TTP matrix offer advisers extra value, which they can demonstrate to their clients and the regulator. It’s yet another feature many of our competitors should look to copy. The output of the TTP matrix is a clear, like-for-like comparison of a key feature of mortgage products, which can be printed and handed to the client, and which can’t be produced without either time consuming, manual processing, or the Orbiter system.”

Ron Taylor - part of The Homeloan Partnership Network and a regular user of Orbiter - says “Orbiter supports advisers’ businesses with a comprehensive, state-of-the-art system available for free, and this new tool is a very useful addition indeed. In an industry where information is everything, clear, precise and accurate data of this nature is a must for every mortgage professional.”

Robert Kelly, Group IT Director at Orbiter, adds “We offer a technologically advanced sourcing system and trading platform, free of charge. We’re developing it to satisfy the market of tomorrow, characterised by lower proc fees, necessitating value-adding services which warrant advice fees. That’s why we’re eroding the market share of the older, legacy systems which appear less capable of adapting with technology to meet the changing needs of advisers.”

Advisers can access the Orbiter system now at www.orbiteronline.co.uk.