One Mortgage System (OMS), the seamless single-input enquiry to completion processing platform for mortgage intermediaries, has partnered with Legal & General’s SmartrFit affordability calculator tool.
31 Jan 2022
The first full integration of SmartrFit anywhere gives OMS users a seamless research tool for residential mortgages. The user experience is 100% OMS design which removes any re-keying, pre-population or changing systems. Powered by SmartrFit, the results are made available in one place without leaving OMS anytime the user needs them.
Whilst SmartrFit launched as an affordability calculator nearly a year ago with residential, it now includes Buy to Let and this will be available on OMS shortly. The combination of both in the one tool supports advisers research and help provide clients with a clearer picture of their options upfront.
As well as providing support to experienced brokers within the industry, SmartrFit can also be used as a training tool for new brokers to help them narrow down lending criteria and find the right solution for their client which they can afford.
OMS is the only end-to-end mortgage system which covers product areas such as residential, buy-to-let, second charge, equity release, bridging, commercial plus general insurance and protection. It has already integrated with four market-leading platforms - Iress, Twenty7Tec, iPipeline and Knowledge Bank - to provide users with best in class for product sourcing, protection sourcing and criteria searching.
Neal Jannels, Managing Director of One Mortgage System (OMS): "SmartrFit has many parallels with OMS in terms of how it has been developed internally and built with brokers and their clients firmly in mind. There are also several others such as how fast it has grown, how it’s main aim is to make the life of the adviser easier and how it continues to develop in line with intermediary feedback.
This shared philosophy makes it an ideal partner at such an exciting time for the business. We are just putting the finishing touches to our ambitious growth plans for 2022, which will include many more game-changing partnerships and integrations, and we can’t wait to get started.”
Kevin Roberts, Director Legal & General Mortgage Club: "We’re delighted to have worked with OMS on this exciting development to integrate our SmartrFit tool into their platform, avoiding dual keying to provide advisers quick and accurate results, leaving them more time to do what they do best; help and advise clients. Like OMS, we have a really exciting 2022 planned for SmartrFit and so we’re thrilled OMS users get access now to our free tool."
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 trillion in total assets under management* of which 39% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also underpin our leading retirement and protection solutions. We are a leading international player in Pension Risk Transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.
Legal & General Insurance (LGI) has been offering life insurance cover since 1836 and is the UK’s number one individual life insurance provider. Our group protection business in the UK offers life insurance and income protection products to individuals through their employers and we offer term-life insurance in the US. We now have over 5.5 million UK life insurance customers, 1.8 million people in group protection schemes and approaching 1.3 million US term-life insurance policyholders. Here in LGI, we protect our customers and their loved ones throughout life and death.
*at 31 Jun 2021
Over the last decade, as the rest of the world - including the financial sector - has raced forward technologically, the mortgage market and particularly the specialist finance sector has remained underserved.
OMS was conceived as the all-in-one solution to overcome this growing problem.
With a constant acceleration in changes to the regulatory environment, more clients are requiring specialist finance. Every case is taking more work to get the same result.
The system has been designed from the ground up so that advisers can dedicate their time to what really matters, providing the best advice and maintaining close relationships with their clients.
The system has been developed by working alongside mortgage advisers, observing how they operate and how OMS could simplify admin and processing requirements. This has resulted in a multi-award-winning system that, in only its first year, has amassed over 4,000 users.