Twenty7tec has announced the acquisition of mortgage affordability platform Broker Sense for an undisclosed sum.
Broker Sense, founded by Stuart Phillips and Mark Spilsbury, helps mortgage advisers assess client affordability against lender rules, whilst ensuring that they recommend the correct lender as part of their research process. By entering client data only the once, users of the platform receive affordability results from nearly 100 mortgage lenders across both residential and buy-to-let sectors. The solution can also be integrated via API into other systems and efficiently supports the production of evidence of research documents.
The Broker Sense platform will be integrated into SOURCE, Twenty7tec’s mortgage research module. This will provide users with a single research solution for product, criteria, and affordability.
James Tucker, CEO of Twenty7tec, said: “We have witnessed a turbulent lending market over recent years, leading advisers to increasingly seek efficient platforms to aid them in their quest to provide the most up to date information for their clients. At Twenty7tec we continue to invest in platforms that ease the day-to-day processes for these advisers and have conducted a thorough review of the numerous mortgage affordability tools that have recently come to market.
“This acquisition is further evidence of our ongoing commitment to both acquire and deeply integrate technology that simplifies, streamlines, and digitises financial services. We believe that in Broker Sense, we have acquired a business that truly delivers a robust, technologically advanced solution that promises to enhance the advisory experience.”
Phillips, managing director of Broker Sense, added: “Twenty7tec has long been a market leader in the provision of technology solutions that make advisers’ lives easier. I am delighted that Broker Sense will now form part of the Twenty7tec suite of products, and the integration of our affordability solution into SOURCE will extend the depth and breadth of what is already a first-class research platform.”
