Twenty7Tec has announced that it will provide its analytics platform, INSIGHT, free of charge to any mortgage lender entering the 90%+ LTV market, who isn’t already a subscriber.
 
The mortgage technology provider said it “firmly believes” the UK’s economic recovery will be aided and supported by a fully functioning housing market.

As demand from first-time buyers continues to outstrip supply in the housing market, Twenty7Tec suggested that providing access to its data will allow lenders to make appropriate decisions every day about their portfolios of products, and “play their role” in a mortgage and housing-led recovery. 
 
INSIGHT will provide lenders with real-time data on how their products are performing with intermediaries, Twenty7Tec stated, as well as help with tranche management, estimated pipeline volumes, ESIS production, market trends and search trends in the high LTV market. 
 
“This is our way of trying to give something back after the success we have had as a business,” said Twenty7Tec sales director, Phil Bailey. “It is also a way of supporting this essential part of the market which is the gateway to first-time buyers playing their role in unlocking the first step on the housing ladder.

“Lenders want to lend, and in general, are well-funded. However, with their slow and cautious return to market we are seeing little sign of returning to normality.

“We’re entering what are traditionally the busiest weeks of the year for the mortgage and housing market – from September to mid-December – and this offer will help everyone to navigate that period judiciously.

“We want lenders to feel confident in the high LTV market once again, we want to provide them with the tools to help them better manage their risk and help mitigate some of the operational challenges at this time. Real-time data in an ever-fluctuating mortgage market is critical right now.”

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