Despite growing use of automated sourcing systems for second charge mortgages, master broker Clever Lending argues new technology cannot replace the conventional lending decision process.

While new technologies narrow down potential options in a rapidly changing market environment, the personal touch is necessary to carry out more complex assessments of clients’ circumstances.

Sam Kirtikar, managing director of Clever Lending said: “Investing in sourcing systems is clearly a good use of technical spend as it allows master brokers to provide introducers access to their lender panel products via a slick sourcing system and streamlined advised or packaged processes that will help product choice and underwriting during the application process. With that comes the added benefit of increasing awareness of second charges which many brokers and their clients may not have really considered before.

“But each case is unique and more often than not there are factors that a system cannot pick up or be flexible towards. Sourcing systems are a very useful tool to increase and illustrate affordable options and when this speed of comparison is backed up by a qualified underwriter we can move towards the goal of providing the most appropriate solution for the client. When launching our own Clever Sourcing system with Mortgage27tech, we ensured that it was always backed up with resource to handle case specifics and with hundreds of brokers already using the system it’s clear that brokers still want a quality, personal service when dealing with important client financial decisions.”