One Mortgage System (OMS) has begun a pilot for ‘Second Charges Quick Quote’, its new “instant” sourcing platform for second charges.
The pilot, in collaboration with Pepper Money, Interbridge, and Selina Finance, will allow OMS to tweak and shape the platform ahead of a full rollout in the intermediary space.
Second Charges Quick Quote is designed to improve efficiencies across the second charge mortgage market by streamlining the sourcing process and providing instant access to multiple lender quotes.
OMS claims that, with real-time comparisons, brokers can quickly identify the most suitable options for their clients, without the need to complete a full Decision in Principle (DIP).
Ryan McGrath, second charge sales director at Pepper Money, said: “At Pepper Money, we understand the importance of technology in supporting brokers and enhancing the customer journey.
“This includes both developing our own technology offering to deliver a slick application and completion process, as well as working with our strategic partners on platforms that help brokers to research and source the best option for their clients.
“Second Charges Quick Quote by OMS aligns perfectly with our commitment to making second charge lending faster, simpler, and more accessible and we’re excited to collaborate on this innovative platform.
“It has the potential to drive real efficiency gains and deliver outstanding value both to brokers and customers.”
Neal Jannels, managing director of One Mortgage System, added: “The launch of Second Charges Quick Quote represents a major advancement in simplifying the second charge lending process, reinforcing OMS’s commitment to developing and delivering smarter, faster, and more efficient solutions across the intermediary market.
“Once the pilot is successfully completed, we plan to extend Second Charges Quick Quote to a broader range of second charge lenders, further expanding broker access to instant mortgage solutions while minimising administrative burdens.”
