Brightstar launches specialist sourcing system
Brightstar has confirmed its specialist finance sourcing system EasySource will go live on 1 June, giving brokers access to second charge and bridging deals, sorted by price and criteria.
The system will also show brokers when their application has a “near miss” with other lenders not listed to give the option of tweaking loan-to-value to improve the rates available.
Rob Jupp, chief executive of Brightstar, said: “People have been saying that creating this technology is not possible for the specialist market for years.
“It’s not been a straightforward process, but we have proved it can be done and we think this will help to shape the future of specialist finance.”
The system is powered by Twenty7Tec and has full capability to integrate first charge mortgage deals, allowing brokers to compare first charge remortgages with second charges – a requirement under Mortgage Credit Directive rules.
Jupp added: “We are in talks with networks and mortgage clubs to agree how we can help their advisers gain easy access to specialist finance and a whole range of new lenders in a transparent and compliant way.
“Advisers can input a client’s existing deal or a recommended first charge deal and then compare either to the second charge options on offer.”
Brightstar has already agreed long-term contracts with Mortgage Advice Bureau, Paradigm, Intrinsic, Alexander Hall and John Charcol.