Fintech company Twenty7tec recently announced the acquisition of mortgage affordability platform Broker Sense for an undisclosed amount.
Broker Sense, established by Stuart Phillips and Mark Spilsbury, assists mortgage advisers with assessing customer affordability against lender rules, while also ensuring that they recommend the appropriate lender as part of their research process.
By inputting customer data only once, users of the platform obtain affordability results from almost 100 mortgage lenders across residential and buy-to-let sectors. The solution may also be integrated through API into other systems and effectively supports the production of evidence of research documents.
The Broker Sense platform will reportedly be integrated into SOURCE, which is Twenty7tec’s mortgage research module.
This should offer users with a single research solution for product, criteria, as well as affordability. Thus, supporting advisers in offering the appropriate recommendations for their customers.
James Tucker, CEO of Twenty7tec, stated:
“We have witnessed a turbulent lending market over recent years, leading advisers to increasingly seek efficient platforms to aid them in their quest to provide the most up to date information for their clients. At Twenty7tec we continue to invest in platforms that ease the day-to-day processes for these advisers and have conducted a thorough review of the numerous mortgage affordability tools that have recently come to market.
He added:
“This acquisition is further evidence of our ongoing commitment to both acquire and deeply integrate technology that simplifies, streamlines, and digitises financial services. We believe that in Broker Sense, we have acquired a business that truly delivers a robust, technologically advanced solution that promises to enhance the advisory experience.”
Stuart Phillips, Managing Director of Broker Sense, remarked:
“Twenty7tec has long been a market leader in the provision of technology solutions that make advisers’ lives easier. I am delighted that Broker Sense will now form part of the Twenty7tec suite of products, and the integration of our affordability solution into SOURCE will extend the depth and breadth of what is already a first-class research platform.”