One Mortgage System (OMS) has launched a pilot for Second Charges Quick Quote, an instant sourcing platform for second charge business.
The initial phase of the Second Charges Quick Quote pilot is in collaboration with Pepper Money, Interbridge and Selina Finance.
OMS said this would allow it to “refine and optimise the platform ahead of a full industry roll-out”.
Second Charges Quick Quote aims to streamline the sourcing process and offer instant access to multiple lender quotes.
As the sourcing platform offers real-time comparisons, brokers can find the most “suitable options” for customers without having to complete a full decision in principle.
Neal Jannels, managing director of OMS, said: “The launch of Second Charges Quick Quote represents a major advancement in simplifying the second charge lending process, reinforcing OMS’ commitment to developing and delivering smarter, faster, and more efficient solutions across the intermediary market.
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“Once the pilot is successfully completed, we plan to extend Second Charges Quick Quote to a broader range of second charge lenders, further expanding broker access to instant mortgage solutions while minimising administrative burdens.”
Henry Vaughan, VP of growth at Selina Finance, added: “As one of the first lenders to integrate with OMS, we’ve seen first-hand how technology streamlines the process for brokers and their clients. This collaboration enabled us to provide brokers with instant access to our competitive products and innovative solutions.
“The expanded launch of Second Charges Quick Quote is an exciting next step, further enhancing the speed and precision brokers can offer their clients. We’re proud to continue our partnership with OMS as they refine this innovative solution, helping to drive greater efficiency and better outcomes for brokers and their customers.”
Ryan McGrath, second charge sales director at Pepper Money, said: “At Pepper Money, we understand the importance of technology in supporting brokers and enhancing the customer journey. This includes both developing our own technology offering to deliver a slick application and completion process, as well as working with our strategic partners on platforms that help brokers to research and source the best option for their clients.
“Second Charges Quick Quote by OMS aligns perfectly with our commitment to making second charge lending faster, simpler, and more accessible and we’re excited to collaborate on this innovative platform. It has the potential to drive real efficiency gains and deliver outstanding value both to brokers and customers.”
