Master broker Enterprise Finance has upgraded its recently-launched Apex broker portal.
The latest version improves on its sourcing technology with transparent case tracking, according to a statement from the firm.
Apex has been live since January, providing a single platform to help Enterprise’s broker partners with sourcing, referral and case tracking. It was initially launched on the 21 March and has since grown to over 900 users.
This date was chosen to coincide with the European Mortgage Credit Directive processes and the portal retains MCD-friendly features like auto-recorded search logs which can be exported simply, making it easier for brokers to comply with the regulations at every step.
The latest upgrade features a greatly enhanced ‘milestone’ case tracking system, meaning brokers can now view the outstanding steps each case requires, while the Enterprise team also now provide bespoke progress notes on each case.
Advisers can also use Apex for applications and case tracking of bridging and commercial mortgages.
Harry Landy, sales director at Enterprise Finance, said in a competitive marketplace it is important for brokers to meet the needs of both their clients and regulators by sourcing, tracking and referring cases with ease and precision.
“The Mortgage Credit Directive means more brokers have to consider second charge mortgages on more occasions. Using the Apex portal makes finding alternative finance solutions and complying with the regulations as easy as possible at every step.
“Brokers can therefore significantly reduce the work needed to meet the directive’s obligations whilst delivering great outcomes for customers.”
The EU-wide rules brought regulations of second charge mortgages in line with first charge, meaning brokers must mention the option of second charge loans to customers looking to extend their borrowing.
For firms wanting to describe themselves as ‘independent’, they must also include second charge within the scope of their service.
At the end of May, Legal & General Mortgage Club revealed 84 per cent of brokers plan to include second charge loans in their advice process this year, following the MCD changes.
peter.walker@ft.com
