Legal & General Mortgage Club has launched a digital criteria service designed to make the process of brokers finding a mortgage for their clients more efficient.
The launch of SmartrCriteria is described as a "digital user-friendly" system which will give brokers access to a range of criteria and follow up questions when searching for a client’s mortgage product with different lenders.
The system retains nine years’ worth of data from the club’s mortgage support services and offers brokers 394,000 criteria outcomes from more than 95 lenders.
Legal & General also anticipates SmartrCriteria being used as a training tool for brokers new to the industry, to help them narrow down lending criteria within the market.
A Legal & General spokesperson said the club would continue to update the system and was keen to receive broker feedback.
Kevin Roberts, director at Legal & General Mortgage Club, said: "Looking for the best mortgage options can be a time-consuming process for brokers and their customers, and with ever changing lender criteria, it can be difficult to stay on top of it all.
"SmartrCriteria has been built with this in mind, designed to make placing cases both quicker and easier, resulting in better outcomes for both brokers and the end customer."
Greg Cunnington, director of lender relationships and new homes at mortgage broker Alexander Hall, said: "This is a really great move from Legal & General Mortgage Club.
"The technology behind SmartrCriteria does the heavy lifting for advisers, allowing them to spend less of their time speaking to various lenders and more time concentrating on what really matters – maintaining strong client relationships and giving good advice."
rachel.addison@ft.com
