Mortgage Engine has announced a new partnership with the mortgage comparison platform co-founded by Moneysupermarket Group, Podium.
The arrangement will allow Moneysupermarket Group customers to receive instant decisions directly from several lenders.
Mortgage Engine, the fintech platform that supports the mortgage process for distributors, is currently integrated with 22% of the UK mortgage lender market.
Mortgage Engine managing director, Cloe Atkinson, said: “It’s great to be partnering with Podium, and to give Moneysupermarket Group customers the benefit of real-time decisions from multiple lenders by only entering their details once.
“For those customers seeking professional mortgage advice, our multi-DiP functionality also reduces the time advisers need to spend on preliminary admin checks, making the process more streamlined, and resulting in more informed product decisions.”
Mortgage Engine, whose clients include Santander and NatWest, has indicated it has more lenders lined up for integration in the coming months. In 2020, the firm’s offering will also include application integration with lenders.
The Mortgage Engine system will help to direct customers seeking professional advice for choosing a lender, to brokers from the Moneysupermarket Group platform, which the fintech platform said would further enhance the efficiency and suitability of the application process.
Podium co-founder and strategy director, James Sadler, commented: “It is great to work with Mortgage Engine to help Moneysupermarket Group customers get a decision in principle.
“The changes in the mortgage market are being driven by consumer demand for simplicity, transparency and certainty. A decision in principle is a key step to helping customers move forward in the mortgage process.”
Moneysupermarket Group corporate development director, Mark Gracey, suggested there are millions of customers every year who are ‘crying out for greater clarity on the product options available to them.’
“Mortgages are one of the last areas of financial services to truly digitise,” he added. “Innovation is a central pillar to our reinvent strategy at Moneysupermarket Group, as evidenced by our launch of Podium earlier this year, and we are delighted to now be working with Mortgage Engine to offer multi-DiPs to our customer base.”
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