Twenty7Tec offers 90% LTV lenders free access to Insight platform
Twenty7Tec is to provide its Insight analytics platform free of charge to lenders who enter the 90% loan-to-value (LTV) market, it announced today.
The tech provider is offering the deal to lenders who are not already subscribers in a bid to support this essential part of the market, which it describes as the ‘gateway’ for first-time buyer.
Insight provides lenders with real-time data which shows how their products are performing with intermediaries. It helps with tranche management, estimated pipeline volumes, ESIS production, market trends and search trends in the high LTV market.
Phil Bailey, sales director at Twenty7Tec said: “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.”
Support and availability
Twenty7Tec said it would also support lenders entering the realm of 90% plus lending with bespoke training and system analytics to help them better understand the state of play in the high LTV market.
Twenty7Tec’s monthly market reports have consistently shown, when it comes to first-time buyers, demand is outstripping supply. It said it wants everyone to have access to this data – live – so they can make decisions.
It thinks its offer will provider everyone with the chance to navigate the busy period for the mortgage and housing market ‘judiciously’.
Bailey added: “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 offer is available for new Insight customers and while lenders have at least one live product at 90% or less on Twenty7Tec’s SOURCE platform. The free period will run until the end of 2020.