The Association of Short-Term Lenders (ASTL) has announced that One Mortgage System (OMS) has become the latest firm to join as an associate member.
OMS is a customisable CRM system for mortgage and protection intermediaries that can be used by brokers, packagers, networks and lenders.
The OMS platform has been created for brokers, packagers and lenders to provide back-office technology that can help them to save time and effort with the minimal of inputting.
In 2022, OMS processed 42,000 applications worth £9.3bn and it has amassed more than 12,000 users in the last four years.
OMS managing director, Neal Jannels, said: “[This year] has already been a watershed year for OMS as we have steadily increased the number of brokers with whom we work and enhanced our proposition for lenders.
“We are working with a growing number of lenders, delivering their back-office systems and technology, and believe we can help forward-thinking short-term lenders to streamline their processes and manage their lending more effectively. Market leading technology doesn’t just benefit lenders, but it also benefits customers and we share the ASTL’s commitment to delivering consistently excellent customer outcomes.”
Firms that join the ASTL typically work in the bridging and secured loan sectors and provide short-term loans and mortgages, often ranging between six months to a year.
Members of the association must abide by a code of conduct which requires them to disclose costs and fees up front with no small print or misrepresentation of product offerings, and not charge non-refundable fees which could be perceived as being excessive.
CEO of the ASTL, Vic Jannels, added: “I’m really pleased to welcome OMS as the latest professional organisation to become an associate member of the ASTL. Our growing membership not only reflects the increasing number of like-minded businesses that want to demonstrate a commitment to high standards, but it also amplifies our voice as an association and enables us to better represent the interests of our sector and our customers.”
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