Intermediary platform, Acre, has reported a sharp increase in mortgage volume on the platform in the first six months of 2023.

This comes as the firm surpassed helping 10,000 families get the protection they need on a protection-only case.

Against a backdrop of a mortgage market with dropping volumes and approvals, Acre suggested its growth reflects an over 400% year-on-year growth in mortgage volume.

With growing interest in Consumer Duty driving firms to think more about compliance and their protection strategies, Acre added that it is “cementing itself as the broker’s intermediary platform of choice”, by using data and tech to deliver change to the mortgage process.

CEO and founder of Acre, Justus Brown, said: “The mortgage industry is creaking under the strain of the ever-changing housing market. Brokers need to be savvy in minimising the pain homeowners face when looking for a new mortgage or remortgaging. Resilience comes down to having the right information and acting swiftly.

“Our technology makes that possible and it is wonderful to see the market respond so well to what we are trying to achieve.”

Acre also revealed that it expects to expand its mortgage club and network partnerships in the second half of 2023, while also adding new tech and data capabilities to help brokers have a different type of discussion with clients about buying a home and preventing foreseeable harm.

The firm also plans to extend its client portal beyond the current consumer credit report to allow credit report refreshes, giving the homebuyer a place to monitor their entire financial wellbeing.

“Our focus for the rest of the year is how we can make brokers work simpler, easier to stay accountable and, most importantly, not put clients at any unnecessary financial risk,” Brown added.

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