Twenty7tec has acquired Broker Sense, a mortgage affordability platform, for an undisclosed amount.
As part of the acquisition, the Broker Sense will be integrated into SOURCE, Twenty7tec’s mortgage research module. This will provide users with a single research solution for product, criteria and affordability.
Broker Sense, which was founded by Stuart Phillips and Mark Spilsbury, helps mortgage advisers assess client affordability against lender rules, whilst ensuring they recommend the correct lender as part of their research process.
Users receive affordability results from around 100 mortgage lenders across both residential and buy to let sectors. The solution can also be integrated via API into other systems and efficiently supports the production of evidence of research documents.
Speaking on the deal, Twenty7tec CEO James Tucker said, “We have witnessed a turbulent lending market over recent years, leading advisers to increasingly seek efficient platforms to aid them in their quest to provide the most up to date information for their clients.
“At Twenty7tec we continue to invest in platforms that ease the day-to-day processes for these advisers and have conducted a thorough review of the numerous mortgage affordability tools that have recently come to market.”
Twenty7tec claims to be the technology partner for wealth and mortgages. It provides a customer relationship management solution for advice firms.
Broker Sense managing director Stuart Phillips added, “Twenty7tec has long been a market leader in the provision of technology solutions that make advisers’ lives easier. I am delighted that Broker Sense will now form part of the Twenty7tec suite of products, and the integration of our affordability solution into SOURCE will extend the depth and breadth of what is already a first-class research platform.”
Late last year, Pylon secured $8.5m in its seed funding round. Pylon aims to make credit service easier to implement. The capital injection was led by Conversion Capital and backed by Peter Thiel, Fifth Wall, Montage Ventures, QED Ventures and Village Global.
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