AveloTrigold integrates with Mortgage Brain
Trigold had previously pushed for full integration between the two sourcing systems with Mortgage Brain users having access to its Electronic Trading Centre and vice versa. However the beleaguered sourcing system failed to get the venture off the ground.
Jon Whitmore, mortgage products and strategy director at Trigold, said ETC had not been actively marketed for a number of years and the level of mortgage transactions it dealt with was in the tens of thousands, admitting this was “currently low”.
He said: “What we are trying to do with this project is put the focus back on the trading platforms and ultimately increase choice for our users.”
Whitmore added: “We will now be the first sourcing system in the market to offer direct electronic integration to the top six lenders which can only be achieved by combining the two platforms.”
After the Competition Commission kyboshed Mortgage Brain’s attempt to take over Trigold in March last year Whitmore announced plans to launch a “simpler website” which would be easier to use than existing trading platforms.
Trigold has since offered a direct integration approach which would take the user direct to the lender’s website. But Whitmore confirmed this has yet to be taken up by any lenders.
Mark Lofthouse, CEO of Mortgage Brain, said: “MTE is the industry’s only true electronic trading platform supported by the UK’s major lenders with over 230,000 mortgage transactions taking place each year.
“The integration with Trigold’s Prospector sourcing system makes it easier for brokers to secure a decision in principle and submit applications to lenders.”