Mortgage Magic has launched AI-powered criteria sourcing to enable brokers to instantly match a client’s specific circumstances against thousands of lender rules.

The cloud-native platform said the move would remove the need to manually cross-check PDF criteria sheets or lender websites.

Mortgage Magic said its technology solves the problem of potential wasted applications by overlaying live criteria data directly on top of product sourcing.

The system uses AI to understand complex criteria and automatically filters out lenders who would decline the case, even if their rate looks attractive.

Criteria sourcing features including smart filtering to hide products from lenders who do not accept the client’s specific profile; natural language search to allow adviser to make queries so the AI can shortlist compatible lenders; and sandbox mode, which allows brokers to test scenarios to see how it impacts lender eligibility without starting a new case.

The AI criteria sourcing module is available immediately to all Mortgage Magic subscribers.

Chief executive officer at Mortgage Magic, Tanjir Sugar, said: "We believe product sourcing should reflect the reality of who will lend, not just who is cheapest.

"For too long, brokers have had to be part-time researchers, constantly checking yesterday’s emails or downloading PDFs to see if a rule has changed. Our new AI criteria sourcing closes that gap. It checks the small print instantly, so the adviser can recommend a product with total confidence that the case will actually go through."

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