Mortgage brokers use a variety of software to help them with the everyday tasks of managing clients and transactions. Having the right software tools is essential for efficiency, compliance and client satisfaction.
This article explores the different types of software commonly used by mortgage brokers, with a particular focus on CRM (Customer Relationship Management) systems.
We’ll also highlight the unique benefits of the ClientTree CRM system, designed specifically for the UK mortgage broker industry.
Essential Software for Mortgage Brokers
1. Mortgage Sourcing Platforms: One of the most important functions of brokers is the ability to compare mortgage products from various lenders. These platforms allow brokers to quickly find and recommend the best mortgage deals for their clients based on specific criteria.
Popular Examples:
- Mortgage Brain: Provides a comprehensive range of mortgage products and detailed sourcing capabilities.
- L&G Ignite: A free sourcing tool to compare deals, check affordability and criteria points.
- Insurance Sourcing Platforms: Insurance sourcing is equally important when advising clients regarding their insurance options. These platforms help brokers offer a full suite of financial products, including life insurance, mortgage protection, and home insurance.
Popular Examples:
- UnderwriteMe: Their Protection Platform offers an extensive range of personal insurance products with integrated underwriting facility and a user-friendly interface.
- Uinsure: Their system offers general insurance (GI) for home owners and landlords alike from a range of insurers.
- CRM Systems: A CRM system helps brokers manage their client relationships, track interactions, and automate various administrative tasks. A specialised UK mortgage broker CRM system, like ClientTree, provides additional features tailored to the unique needs of the UK mortgage market.
The Importance of a Mortgage CRM System
A mortgage CRM system is more than just a database of client information. Here are some key functionalities and benefits:
- Client Management: CRM systems hold client information, notes and documents, track transactions, and enable personalised service and communication.
- Workflow Automation: Automating routine tasks such as sending emails, prepopulating data into and from integrated 3rd party systems, or updating various sections based on pre-set conditions. This cuts down on time spent on admin and speeds up the advising process.
- Lead Management: CRM systems help brokers manage leads efficiently. From capturing initial enquiries to following up on transaction progress and keeping in contact after completion.
- Compliance and Reporting: Staying compliant with regulations is easier with a CRM system that offers built-in compliance features. Brokers can generate reports, track compliance status, and ensure they meet all regulatory requirements.
UK Mortgage Broker CRM System: ClientTree
Among the various CRM systems available, the ClientTree CRM system stands out for its focus on the UK mortgage industry. ClientTree integrates with leading mortgage and insurance sourcing platforms, streamlining the advising process and minimising the need for re-keying data.
Here’s how it works:
- Seamless Data Flow: Using the integrated introducer portal, client portal and sourcing platforms, there is no need to re-key data and documents can be shared securely.
- Efficient Product Sourcing: Using the integrated sourcing tools, broker can find the best deals for their clients. This makes the advising process more efficient and ensures clients receive comprehensive advice.
- Secure Document Management: All documents related to mortgage and insurance applications are stored within ClientTree. Brokers can easily access, manage, and share these documents or get them e-signed, streamlining the application process.
Conclusion
Mortgage brokers rely on different systems, including mortgage and insurance sourcing platforms as well as CRM systems. Among these, a robust CRM system like ClientTree is particularly valuable.
The ClientTree CRM system was designed for mortgage and insurance brokers in the UK to offer a user-friendly and client-centric alternative with various unique features incorporated to reduce the admin burden of the mortgage process.
By using ClientTree, mortgage brokers can improve their efficiency, provide better service to their clients and be fully compliant. For this reason, whether you are an experienced broker or just starting in the industry, investing in a specialised UK mortgage broker CRM system like ClientTree could make all the difference for your business.
