Technology provider Twenty7Tec has bought Broker Sense, a mortgage affordability platform, for an undisclosed sum.
The acquisition will see the technology, which streamlines affordability research for mortgage advisers, integrated into Twenty7Tec’s mortgage research module ‘Source’.
Founded by Stuart Philips and Mark Spilsbury, Broker Sense helps mortgage advisers assess client affordability against lender rules as part of their research process.
Advisers enter client data one time only, allowing users of the platform to view affordability results from nearly 100 mortgage lenders across both the residential and buy-to-let sectors.
Commenting on the acquisition, Twenty7Tec chief executive, James Tucker said the purchase is part of a strategy by the firm to invest in platforms that ease the day-to-day processes for advisers and follows a thorough review of the mortgage affordability tools currently available on the market.
"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,” Tucker said.
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.”
Users of Twenty7Tec will now have access to a single research solution for product, criteria and affordability via its ‘Source’ module.
Broker Sense managing director, Stuart Phillips described Twenty7Tec as a “market leader in the provision of technology solutions that make advisers’ lives easier.”
Philips added that he was delighted that Broker Sense will now “extend the depth and breadth of what is already a first-class research platform.”