A new rate monitoring tool for brokers has been launched by two mortgage professionals that they say will save intermediaries “a significant amount of time every day”.
Mortgage Metrics is a software service that sets alerts across a range of mortgage rates, without having to share client information.
The system then automatically scans rate reductions across thousands of product transfer, remortgage and purchase products from mainstream lenders, to help brokers deliver better deals for clients between application and completion.
The company has been co-founded by Lee Flavin, who is also the co-founder of RateSwitch. Chris Evans has also built the business, who is also a co-founder of Accelerate My Mortgage.
The firm says: “The service has been launched to solve a growing problem which didn’t exist during the era of ultra-low interest rates, and brokers can now trial the service for free to start replacing any manual process they have in place straight away.”
The business says it tracks thousands of product transfer, remortgage and purchase rates from a variety of mainstream lenders, including:
Accord Mortgages, Bank of Ireland, Barclays, BM Solutions, Clydesdale Bank, Coventry BS, Digital Mortgages, Halifax, HSBC, Metro Bank, Nationwide BS, NatWest, Platform, Principality BS, Santander, Scottish Widows, Skipton BS, The Mortgage Works, TSB Bank and Virgin Money.
