Sarah Ryan’s Post

Rightmove analysis shows that it takes an average of five and a half months from a seller accepting an offer until the transaction completes. This is due largely to disconnected parties, manual processes, and closed data. Coadjute is on a mission to transform this process by bringing estate agents, conveyancers, #mortgage lenders, buyers and sellers together onto a single network where all parties are verified, and data can be shared securely in a standardised way. This means that important information, from deeds, to #DigitalIdentity, to financial transactions, can all be exchanged quickly and securely regardless of the system the party involved uses.

Open Property Data Association has developed open #PropertyData standards and models for “trustable and shareable” data, with these available as free and #OpenSource tools. Those already using the data standards for digital property packs have reported a reduction in time taken between #mortgage offer and purchase being accepted, to exchange of contracts, to within 15 days.

The advisors at Gryphin Advantage are such a pleasure to partner with. It's been just under a year since I started introducing myself to the Gryphin team, and I'm very much looking forward to building deeper relationships and helping their clients. #thegryphinadvantage #HomeEquityBank #Reversemortgage #Financialplanning #Retirementplanning

I'm excited to see the #ConsumerDataRight featured in the Mortgage & Finance Association of Australia (MFAA)'s submission to the Senate inquiry on home ownership initiated by Senator Andrew Bragg. 👉 Recommendation 5: Continue to support the development of the Consumer Data Right (CDR) and to progress broker use cases. #OpenBanking is critical to competition and innovation in the #mortgage market. In turn, that can unlock a better experience for borrowers, and support brokers, aggregators and lenders to do more. At Stryd, our Stryd Broker and Stryd Lender products combine consumer data and product data accessible via the #CDR to automate processes and free brokers up to focus on their customers. If you haven't seen Stryd in action, you can book a convenient time for a demo here: https://lnkd.in/gcFTukDE 👇 The full MFAA submission makes some very clear points, and it makes them very well. Worth reading in full. As MFAA CEO Anja Pannek says: "Mortgage brokers facilitate nearly 75 percent of all home loans in Australia, making the mortgage broking industry not just systemically important to the Australian economy, but also instrumental in facilitating consumer choice and competition in the home lending sector." Naveen Ahluwalia #MortgageBrokers #MortgageBroking

HSBC is the latest to reprice following similar moves from other lenders this week, including Santander, Coventry and TSB, HSBC will be increasing selected mortgage rates across a number of its product ranges. Nicholas Mendes, head of marketing at John Charcol “HSBC’s latest reprice was inevitable following competitor movements in recent days. “Having the best buy rate over a weekend is risky business, as this would have resulted in being overwhelmed with applications." Further details and reaction in The Intermediary #johncharcol #mortgageindustry #mortgagebrokers #mortgagerates #mortgagerate #mortgagebrokeruk #mortgagerates2024 #mortgagenews #mortgagelending https://lnkd.in/eQ_e7dUK

NatWest Group Latest in Large Lenders to Join Open Property Data Association Campaign to Transform Homebuying Maria Harris, Chair of OPDA, said: “To have NatWest Group join us so soon after other large mortgage lenders is a key moment, not just for us at OPDA, but also for the homebuying sector. NatWest’s support reinforces how absolutely vital open data standards are in digitising property transactions and the commitment from industry to make this happen. Together, NatWest and our other lending members’ ability to reduce the industry’s attachment to forms-based thinking and siloed approaches will have a fundamental impact on improving the poor customer experience of the homebuying process.” https://lnkd.in/eWq2qg5n Zachery Anderson Nick Tatman Kellie Lennon Nicolette Bullivant Katie Murray Scott Marcar #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

'Consumer Duty' - The buzzword at the 2024 Annual Mortgage Conference hosted by UK Finance and DLA Piper. And for good reason - to make sure brokers are prepared for the wider application of Duty, enforceable from the 31st July 2024. We asked Property Circle's Founder, Marc Randall "How do brokers ensure effective application of the Duty to ensure protection for customers?" "The Duty demands a shift in mindset – from transactional sales to long-term client outcomes. This means proactive communication with your clients is key throughout the mortgage term. Keep them informed of market changes and highlight potential savings opportunities. Property Circles revolutionary technology, when linked to your client base, automatically evaluates your existing clients 24/7 to identify mortgage opportunities. Turning your passive client bank into an active part of your client retention demonstrates compliance with the FCA's regulatory standards." Chris Fitch, PhD, FRSPH, Barney Hosey, Signal Advisors, Herbein + Company, Inc. #UKfinance #mortgages #mortgagebroker #mortgagebrokers #mortgageadvisors #mortgageprofessional #propertymarket #consumerduty #PropertyCircle Sarah Hartwell

The UK is working on the liquidity of housing. Canada isn't. Too bad given the head start we had on digitisation in the 1990's. Affordability is not just a supply problem. The rules of supply and demand only work when markets are liquid. Canada has 12M empty bedrooms as it is too expensive, risky and time consuming to right size our consumption of housing as an asset class. A HELOC once took weeks to close and no one applied. 1 in 5 homes now has a HELOC because it takes 24 hours now. Liquidity. But all we hear is supply, supply, supply.

With the addition of NatWest Group to our membership, more than 50% of all purchase mortgage applicants in the UK will have the opportunity for a digital, data driven homebuying process. Absolutely delighted to have the team at NatWest committed to working with us to deliver a better experience for everyone Brad Fordham, Head of Mortgage Distribution at NatWest said: “Speeding up the homebuying journey and making it a simpler, clearer and more customer-focused process is core to what we’re trying to achieve as a bank. Joining OPDA is an important signal of our commitment to driving up standards of transparency and collaboration across all parts of the homebuying journey and we look forward to seeing that continue to improve.” This is a key moment, not just for us at OPDA, but also for the homebuying sector. NatWest’s support reinforces how absolutely vital open data standards are in digitising property transactions and the commitment from industry to make this happen. Together, NatWest and our other lending members’ ability to reduce the industry’s attachment to forms-based thinking and siloed approaches will have a fundamental impact on improving the poor customer experience of the homebuying process #natwest #mortgages #intermediary #property #digital #opendata https://lnkd.in/dQSyqZUX

You may have heard the news that Australia’s fourth-largest mortgage lender, ANZ is set to merge with Australia’s ninth-largest, Suncorp Bank. But what does this mean for consumers? What would happen if your bank were to merge with another? Each deal is of course unique and will have changes that are specific to that merge. However, in general, two sets of systems, products and marketing will be rolled into one. The goal of this is usually to both grow the customer base and find efficiencies. https://loom.ly/FS-vXfs #mortgagebrokerlogan #samanthabarnettloanmarket #tamborinemortgagebroker