Northeast Mortgage Broker Launches Criteria Search System – Exclusive


A mortgage broker in North East England has launched the latest addition to the criteria search market.

The Lender Criteria system, which currently contains data from 60 lenders, was developed by Michael Cuerden who started working on it in 2016.

Cuerden, Managing Director of Lender Criteria, said Mortgage solutions that current systems had not been launched when he designed the site.

“As a mortgage broker at the end of 2016, I was wasting hours at my desk researching loan criteria through procurement systems, websites, and phone calls trying to match the pieces of the puzzle. my clients and my lenders, ”he said.

“I suddenly had one of those ‘light bulb’ moments and thought it would be invaluable to people like me if lender criteria could be harnessed in one place – a website that would allow for professionals to find the answers they need to the criteria questions and get those puzzle pieces to fit.

Brokers more willing

And Cuerden is not turned off by the competitive market he is entering with the ambition to eventually establish a user base of 1,000 brokers.

“Connecting with networks is the fastest route, but I would also like to work with smaller brokers like myself,” he said.

“There are a lot of independent traders who may not already have access to the current systems and I’m not entirely sure the brokers will follow the criteria search to begin with.

“I hope to be there as brokers become more willing to use these search systems. I believe this one is easy to use.

Cuerden isn’t concerned about the possibility of potential price cuts from existing players, but added that he believes the site has real value.

Right now it’s available as a free trial, but he expects the final cost to be around £ 15 per month.

Lender connection created

Cuerden said he did some testing to get web development started, but after testing with more than 20 brokers, the system is now ready to go live.

Right now he and a colleague have added the criteria data, but a Lender ID has been created to allow lenders to update and manage their own information.

“I first wanted to bring the site to this level, so that it would be available. And now I have started to contact the lenders and hope to rally them, ”he said.

Plans are in place for the niche criteria pages and the introduction of rental loans.

Cuerden is happy to receive feedback from brokers and suggested that in the early stages brokers could call, while being with their clients, to do some tricky research.

Owain Thomas is Editor-in-Chief and Contributor of Mortgage Solutions and Editor-in-Chief of Specialist Lending Solutions. He also has experience in the areas of protection, pensions, benefits and human resources. Owain won two Headline Money Awards and the Protection Review Journalist of the Year award.

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