A new service developed by Twenty7Tec that allows for product and criteria sourcing on one platform is currently being tested with a number of intermediaries.

The fintech says that the system supports free format text criteria searches and produces evidence of research of documentation.

Twenty7Tec is planning for a wider release in June, eventually opening up to its 13,000 SOURCE system users.

Alongside this, the firm says that this new functionality will be free to SOURCE users until the end of 2021.

Twenty7Tec chief executive James Tucker says: “”With the addition of this new criteria search functionality to SOURCE, alongside our integration with Mortgage Broker Tools for affordability calculations, we continue to deliver on our primary goal as a business – to develop technology that makes the process of searching, applying for, and obtaining a mortgage simpler, faster and more efficient”.

Alexander Hall director of risk, compliance and technology David Lawson-Shah adds: ““With lenders’ criteria changing on a daily basis, advisers are needing to spend more time keeping up to date with these changes, taking valuable time away from talking to clients.

“The combined criteria and sourcing solution helps to resolve this. Well done Twenty7Tec for helping intermediaries take a big step in the right direction.”