John Charcol chooses eMoneyfacts for mortgage sourcing

Amanda Jarvis

June 8, 2006

The decision was made on the basis of the reliability and accuracy of Moneyfacts’ data as well as the highly competitive pricing of the eMoneyfacts product.

Since the introduction of mortgage regulation, it is paramount that brokers can source mortgages from a system that they know they can rely on. eMoneyfacts provides brokers and intermediaries with a comprehensive and whole of market sourcing system, which means their clients can rest assured that the advice they are getting is based on the latest product information.

Ray Boulger, senior technical manager at John Charcol commented:”I have used Moneyfacts Datascreen for several years and although no system is 100 per cent accurate, I have been very impressed both by its high levels of accuracy and the news updates. For an independent broker genuinely looking at the whole market, it is essential to have up to date news and product information on every lender. The combination of email updates we receive direct from many lenders and Moneyfacts’ mortgage news service provides the information necessary to keep up to date.

“When checking which products are currently available, an online system such as eMoneyfacts provides obvious benefits in today’s rapidly changing market as it is updated as soon as information has been received from lenders and checked, or is out of embargo.

“An additional benefit for John Charcol in switching to eMoneyfacts was a significant cost saving compared with our previous sourcing system.”

Advanced functionality enables eMoneyfacts users to create an IDD and suitability letters as well as providing audit report facilities, which allow users to print off and save search information including applicant details, mortgage search criteria and search results.

Users can source both residential and buy-to-let mortgages from the whole market, a panel or a particular provider.

  • eMoneyfacts also offers a FREE mortgage compliance centre, which gives the user access to the following key resources:
  • An explanation on which FSA rules apply and how to comply
  • Explaining why these rules are in place and what they are trying to achieve
  • A gap analysis tool, which provides evidence of levels of competency and where gaps in knowledge appear. (A unique test is provided each time from a bank of 1,600 questions and is automatically marked).
  • Providing the latest mortgage compliance news to keep brokers on top of what is happening in the world of mortgage regulation.

eMoneyfacts has already attracted in excess 7,000 individual users and is seen as the source that advisers can trust. It is an integral part of the Moneyfacts Group, which is renowned in the financial industry for its impartial stance and unrivalled data accuracy.

As well as mortgage sourcing, eMoneyfacts also contains selections and data pages for savings, mortgages, cards, loans, business finance, investments, life and pensions. News and rate alerts keep users constantly updated on all of the latest product and industry changes and launches.

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