Y3S Group and pancredit launch QuoteSearch
July 2009
Y3S Group and pancredit have developed a system that will allow mortgage brokers and IFAs to source loan and mortgage products supported by a full credit search. Costing £9.95 per client, the system will allow financial intermediaries to obtain accurate, underwritten loan and mortgage plan quotes for panel lenders, supported by full credit search data. The intermediary is then able to print a full credit report with Equifax Insight data to support the applicant quote details.
Branded as QuoteSearch, the system is a unique sourcing tool for mortgage and loan intermediaries, deployed via the web, using the highly sophisticated MADE sourcing engine. According to the two companies, QuoteSearch is the first automated sourcing solution that is compliant with SCOR requirements for the use of credit data.
After an intermediary has completed an initial registration process with y3s, their application is sent to the lender panel and Equifax for approval which takes around 4 working days. They are then free to use the system often as they wish.
Using the inputted data, QuoteSearch will leave a 'soft' footprint while sourcing the loan plans available. This will ensure that customer’s credit rating is not impacted upon. The plan will be displayed with repayments, wherever possible, and will offer introducers the opportunity to forward the case straight to the y3s group.
Commenting on the launch, Commercial Director of Y3S Group Matt Cottle said, ‘with the prospect of green shoots on the horizon, QuoteSearch is an innovative tool that will help financial intermediaries in their day to day lives. Good news is thin on the ground at the moment so we are proud to be part of something new and exciting.’
Doug Whincup, MADE Business Manager at pancredit added, ‘we have been working very closely with Y3S for the past few months to ensure a smooth delivery of this project, and we look forward to maintaining a good relationship with Y3S in the future. We are delighted that the QuoteSearch initiative has been successfully implemented and are hopeful that this will give a much-needed boost to the intermediary sector.’
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