Mortgage advisers are embracing new technology faster than at any other time since the credit crunch, search criteria engine Criteria Hub has found.
A survey of its users has revealed that competition is the main reason why brokers are looking to technology to help them keep ahead of their peers.
Jason Hegarty, director of Criteria Hub, said: “Providing a great mortgage service has many moving parts and because of the way in which advisers have to rely on others, such as lenders, conveyancers and surveyors, means that if any of these break down, ultimately the blame falls on the broker.
“To counteract this, savvy advisers are telling us that they are making greater use of technology in order to minimise potential road bumps in the process.
“Clearly, using a sourcing system is a given, but making use of online conveyancing and valuation services which provide proven service standards, as well as the increasing use of online platforms that bring full lender criteria under one roof, are helping advisers create a smoother mortgage path, saving time and helping to avoid much of the uncertainty when you have to rely on so many third parties to reach successful completion.”