One Mortgage System (OMS) has launched a quick quote function on its enquiry-to-completion processing platform for intermediaries.
The move is the result of a new partnership with Selina Finance and it is specifically for Selina Finance’s second charge product range.
It allows OMS users to generate second charge quotes from Selina Finance at the click of a button, and it uses key client information already stored within the client relationship management (CRM) system to significantly speed up the application process.
More accessible lending options
This year, Selina Finance has rolled out new policies and criteria enhancements designed to make its lending options more accessible and streamlined.
The aim has been to boost flexibility for brokers and borrowers.
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Selina Finance’s product can serve lump-sum and gradual funding needs, making it an ideal solution for borrowers with varied financial needs.
These range from debt consolidation to funding projects, such as large home renovations or private school fees.
Selina Finance provides pre-approved credit facilities ranging from £10,000 to £500,000.
It allows borrowers to draw and repay funds as needed, without additional fees or penalties, and with interest charged only on the outstanding balance.
After five years, the remaining balance on the revolving credit facility converts to a traditional term loan for the rest of the term.
Henry Vaughan, head of growth at Selina Finance, said: “We’re thrilled about the launch of our integration with OMS and the exciting opportunities it unlocks for our broker partners, enabling us to provide speed, certainty and precision of Selina’s lending decisions as early as possible.
“With our quick quote feature now fully integrated into OMS, brokers can easily view Selina’s innovative products and competitive rates prior to submitting cases.
“We’re proud to be at the forefront of a solution that benefits both brokers and their clients, driving better outcomes for all.”
Continued innovation
OMS is an end-to-end platform that covers a wide range of product areas including residential, buy to let (BTL), second charge, equity release, bridging, commercial plus general insurance, and protection.
Earlier this month, OMS signed a three-year extension with Sourcing Brain.
Neal Jannels, managing director of OMS, said: “Our goal is to continue innovating and delivering tools that empower our users to better serve the ever-evolving needs of their clients.
“This partnership is a perfect example of that ongoing commitment to help speed up the process.
“Selina Finance remains one of the most dynamic lenders operating in the second charge lending space and I’m sure that this facility will prove to be an appealing option for our users in what remains a growing sector of the mortgage market.”
