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Mortgage Brain to launch lead generation app

Mortgage Brain is to launch a lead generation app for mobile devices in Q1 2012, announced Mark Lofthouse, chief executive officer at Mortgage Brain.

Yuan Phoon, 17 November, 2011

Features include a find a mortgage function, a find a broker function that will use Google Maps to search for local brokers and a mortgage calculator.

The app will list brokers who use Mortgage Brain for their sourcing for free and will display broker side products only.

Speaking at the Mortgage Business Expo in London, Lofthouse said: "We haven't seen many attempts to go into this growing space and so we've taken it upon ourselves to spearhead into the area.

"Mobile searches for mortgages grew by 70% over the past 12 months and while it's still fledgling, we expect it to grow rapidly over the near future."

Lofthouse also said that brokers lose 53% of future first-time buyer sales with each client representing around 26 times the value of an initial mortgage sale.

"Brokers need to market more effectively and time their marketing. Use a calendar and get in touch with your clients just as the term of their deal is coming up."

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