Intelligent mortgage criteria searches
Asking if he imagined Latimont becoming a main tool for brokers, Dickinson said he was not sure, but it would be interesting to see how the platform fits into a broker’s workflow.
“What the existing products have is the ability to compare a piece of criteria against multiple lenders, but you don’t get the specific nuances of the criteria. For example, if a broker searched for lenders that accepted foreign currency, it would not say which currencies they would lend on.
“With those systems, it’s good to get a comparison, but with Latimont, you can query specific values. Let’s say I’ve spoken to a client who earns in Hungarian forints and enter this into an existing system. All that would come up would be a lender’s general policy on foreign currency. With Latimont, if you put that specific currency into it, it will recognise this and intelligently identify if a lender accepts it.”
Dickinson said the system was built to perform quickly, so brokers would still be able to compare different criteria in a short space of time.
Dickinson said, typically, when a broker is looking for mortgage criteria, they have a question in their mind and want to retrieve a specific piece of information.
“Latimont allows a user to input a query and get access to that specific piece of information without having to read through other information [that] might not be relevant,” he added.
The Latimont platform launched this week and is free to use for mortgage advisers in the UK who are regulated by the Financial Conduct Authority (FCA).
