Twenty7Tec helps open the 90%+ LTV mortgage market to ensure continued economic recovery

October 13th, 2020 

Twenty7Tec helps open the 90%+ LTV mortgage market to ensure continued economic recovery 

Twenty7Tec has announced today that it will provide its INSIGHT analytics platform free of charge to any mortgage lender entering the 90%+LTV market,  who isn’t already a subscriber 

Phil Bailey, Sales Director at Twenty7Tec, explains: 

“We firmly believe the UK’s economic recovery will be aided and supported by  a fully functioning housing market. That’s why, as of today, in an  unprecedented move, we will provide our real-time INSIGHT data analytics  platform free to any lender while they have 90% LTV products live in the  intermediary market. 

“In practice, that means any lender with a product of 90%+LTV will now be  able to closely monitor the meeting of supply and demand in the mortgage  market. INSIGHT will provide the lender with real-time data on how their  products are performing with intermediaries, as well as help with tranche  management, estimated pipeline volumes, ESIS production, market trends  and search trends in the high LTV market. 

“This is our way of trying to give something back after the success we have  had as a business. It is also a way of supporting this essential part of the  market which is the gateway to first time buyers playing their role in  unlocking the first step on the housing ladder. Lenders want to lend, and in  general, are well-funded. However, with their slow and cautious return to  market we are seeing little sign of returning to normality.” 

“Currently, demand from first time buyers outstrips supply as we have shown  time and time again in our monthly market reports. We want everyone to  have access to that data – live – so that they can make appropriate decisions  every day about their portfolios of products and play their role in a mortgage  and housing-led recovery.” 

“We’re entering what are traditionally the busiest weeks of the year for the  mortgage and housing market (from Sept to mid-December) and this offer will  help everyone to navigate that period judiciously.”

“We want lenders to feel confident in the high LTV market once again, we  want to provide them with the tools to help them better manage their risk and  help mitigate some of the operational challenges at this time. Real-time data  in an ever-fluctuating mortgage market is critical right now”. 

“The benefits to this new approach are far reaching. We are doing this to help  unlock the higher LTV area of lending. INSIGHT allows lenders to understand  how products are performing, in real-time. Providing this platform to lenders  will help them understand the market they are eager to re-join, while  providing a wider view of what’s happening in the intermediary market. We  believe that using INSIGHT will encourage lenders to make more tailored and  timely decisions about when to be in the 90%+LTV market and most  importantly, when not to be rather than running short campaigns to  cautiously dip their toe in.”  

“Lenders can also track the preparation of ESIS documentation for their  products, which will help them manage potential application volumes and  better understand the drop off between initial interest and actual demand. In  turn, this will enable greater analysis over which criteria might need tweaking  to affect demand, along with far greater tranche management.”  

Support and availability 

Twenty7Tec will also support lenders entering the realm of 90%+ lending with  bespoke training and system analytics to help them better understand the  state of play in the high LTV market. 

As you’d expect, terms and conditions apply – this offer is only available for  new Insight customers and available while lenders have at least 1 live product  at 90%> on Twenty7Tec’s SOURCE platform. The free period will run until the  end of 2020. 

-ends 

Notes to editors 

About Twenty7Tec: 

Twenty7Tec’s CloudTwenty7 platform is designed to make the process of searching,  applying for and obtaining a mortgage simpler, faster and more efficient. The  platform is used by all participants in the mortgage market, from lenders to  mortgage advisers, to comparison sites and even end customers.

For all marketing, press and media enquiries. Please contact: Email: giselle@gd-consulting.com 

Tel: 07415 376 440 

 

 

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