Mortgage Magic has launched artificial intelligence (AI)-powered criteria sourcing to help brokers deal with frequent changes in mortgage rules.
The cloud-based platform lets advisers check their client’s details against thousands of lender criteria, without scrolling through lengthy PDF documents or searching lender websites.
The new system uses AI to read and apply complex rules, such as cases involving self-employed clients with one year of accounts or ex-local authority flats.
It filters out lenders who would reject the application, even if their rates are competitive.
Tanjir Sugar (pictured), CEO at Mortgage Magic™, said: “We believe product sourcing should reflect the reality of who will lend, not just who is cheapest.
“For too long, brokers have had to be part-time researchers, constantly checking yesterday’s emails or downloading PDFs to see if a rule has changed.
“Our new AI Criteria Sourcing closes that gap. It checks the small print instantly, so the adviser can recommend a product with total confidence that the case will actually go through.”
